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COMPANHIA DE GÁS DE SÃO PAULO

Financial and Operational Results

September 30th, 2012

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Disclaimer

Statement on Future Declarations:

The forward-looking statements in this report related to the outlook on business,

estimations on financial and operational results and growth prospects for COMGAS are

merely projections and, as such, are based exclusively on management expectations

regarding future performance. These expectations depend substantially on market

conditions, the performance of the Brazilian economy, the business sector and the

international markets, and are therefore subject to change without prior notice.

Financial and Operational Highlights

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Highlights: 3rd Quarter of 2012

Residential segment: 90 thousand new households connected since the beginning of the year.

Continuous growth in volume: +10.2% (9M12 x 9M11) and +6.6% (3Q12 x 3Q11);

Investments: R$ 427 million invested in the first nine months of 2012, 17% above the amount

invested during the same period in 2011;

Network extensions: New record of 918 km built since the beginning of the year;

Settlement on the long term funding contract with the Brazilian Economic and Social Development

Bank (BNDES), in the sum amount of R$ 1.1 billion;

Industrial segment: growth of 2.5% compared to the last quarter, demonstrating the upturn of the

volume demanded during the quarter;

Market Announcement on 10/26/2012, informing that ARSESP authorized the transfer of 60.1% of

indirect participation held by BG to Cosan Provence Participações S.A. (company controlled by Cosan

S.A. Indústria e Comércio).

Fornecimento de Gás Natural: CONTRATOS Natural Gas Supply: Contracts

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Daily quantity contracted:

approximately 14.3 million m³/day, besides auction contracts.

Daily quantity demanded:

approximately 13.0 milllion m³/day up until September 2012.

Contracts TCQ Firm Contract Firm of Energy Auction Weekly Gas

Contract Models Firm Firm Firm of Energy Firm of Short Term Very Short Term

Gas Source Bolivian Undetermined Undetermined

Surplus of PB's contracts with

other distributors / thermal

power plants

Surplus of PB's contracts

with other distributors /

thermal power plants

DCQ

End of Contract Jun/19 Dec/13 Dec/12 Sep/13 Sep/13

Commodity +

Transportation

Fixed Charge +

Variable Charge

Fixed Charge +

Variable Charge

Transportation: annual

readjustment according to USA

Inflation: CPI

Fixed Charge: annual

readjustment by IGP-M

Fixed Charge: annual readjustment

by IGP-M

Commodity: quarterly correction

based on Oil Basket

+ Exchange Rate

Variable Charge: quarterly

correction based on Oil Basket

Variable Charge: quarterly

correction based on Oil Basket

according to bids

Price

8.10 MMm3/day for Aug/2012

forward

5.22 MMm3/day for Aug/2012

forward1.0 MMm³/day

4.17 MMm3/day until Oct 12

3.67 MMm3/day until Nov 12

According to the bid made by the Auction Winner

New Petrobras Auction Contracts (electronic platform)

Considers the demand presented by the distributors and the maximum in price each one is willing to pay.

1. Distributors insert their order in the system and Petrobras inserts the parameters of volume and price in the system;

2. Information on volume of the orders are visualized by all distributors and the distributors dispute the volume offered;

3. Every month, three offers may be released by Petrobras: for 1 month, 2 months and 3 months of supply.

Segments

Volume (in million of m3)

CAGR (00-11)

10.1%

+4.9%

1,676

2,243

2,952

3,418

3,812

4,342

4,761

5,069 5,253

4,261

4,910 4,835

3,830 3,652

5,016

Industrial Segment: Sector Composition

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22.7%

19.1%

14.9%

12.6%

8.9%

7.1%

6.7%

3.9%

2.1%

1.0%

0.7%

0.2%

CHEMICAL / PETROCHEMICAL

CERAMICS

PAPER AND CELLULOSE

METALS / FOUNDRY AND NON FERROUS

GLASS / CRYSTALS

DRINKS / FOOD

AUTOMOTIVE / PNEUMATIC

TEXTILE / LAUNDRY / DRY CLEANING

OTHERS

STEEL SECTOR

PHARMACEUTICAL

ELECTRO / ELECTRONIC

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Markets

Volume per segment (In thousands of m3) Meters per segment

* Thermal Generation not included Note: UDA’s (Householders)

79.9%

7.1%5.9% 3.7% 2.2% 1.2%

56.6%

3.3% 2.4%

28.4%

9.1%

0.2%

Industrial Cogeneration NGV Residential Commercial Thermal Generation

74.5%

7.0%5.4% 3.9% 2.2%

7.1%

55.2%

4.6% 2.8%

27.6%

8.9%

0.9%

Industrial Cogeneration NGV Residential Commercial Thermal Generation

Volume Margin

Volume x Margin

9M11

9M12

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Note : Figures in IFRS

45 64 108 103

242

319

427 443 514

368 413

487

201237

690580

236

352

380

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 sep/11 sep/12

Net Income

107 177 347 330

549 668

860 925 1,035

838 928

1,107

600704

1,363 1,182

716

837

900

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 sep/11 sep/12

EBITDA

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Financial Charts (in million of R$)

CAGR (00-11)

24.2%

IFRS

Previous Accountability

CAGR (00-11)

23.7%

EBITDA Net Income

Note: Calculation of CAGR using previous accountability

Sep11-sep12

IFRS +18.1% Prev. Account. +7.9%

Sep11-sep12

IFRS +17.3% Prev. Account. +7.6%

Financial Performance

In thousand of R$

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Financial Indicators

NOTE: Annualized Indicators (LAJIDA from the last 12 months)

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528469

264

15329

12

-55

-157-230 -198

-128-5

150 204

360 362

dec-08 mar-09 jun-09 sep-09 dec-09 mar-10 jun-10 sep-10 dec-10 mar-11 jun-11 sep-11 dec-11 mar-12 jun-12 sep-12

Regulatory Current Account Balance Evolution

Balance of Gas Recoverable/ To be Passed On: Cash-Effect

R$

mill

ion

R$ 156 millions

made

R$ 54 millions

made

R$ 70 millions

made

R$ 2 millions

made

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650

277 146 113 85

205

117

45 74 53

386

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 forward

Local Currency Foreign Currency

Estrutura de Endividamento Debt Structure

Debt (1) (R$ thousand) Sep 12 Sep 11 Debt Amortization Schedule(1) (R$ million)

Debt Composition: Short Term/ Long Term Debt Composition

(1) Includes Debendetures and Derivatives

(2) EBITDA from the last 12 months

Debt in foreign

currency 100% and

fully hedged.

394

191 187 138

386

855 Short Term Debt 854,543 420,822

Long Term Debt 1,296,176 1,406,024

Total Debt 2,150,719 1,826,846

(-) Cash 143,048 172,021

(=) Net Debt 2,007,671 1,654,825

EBITDA(2) 820,388 869,022

Net Debt/EBITDA 2.4 1.9

Short Term Debt/Total Debt 0.4 0.2

EIB

25%

BNDES 39%

Others 36%

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2.5 2.6 2.93.3 3.6 3.9

4.5 4.9 5.15.7

6.26.9

8.0 7.48.9

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Sep 11 Sep 12

100

229200

230276

474426

397 403 406 405

508

427

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 sep/12

Investimentos

Main Projects: NETWORK EXTENSIONS (In thousands of Km): Taubaté

São José dos Campos II

Guarulhos

Mogi das Cruzes

Osasco II

São Bernardo do Campo

New projects:

Taboão da Serra

São João da Boa Vista

Investments

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+ 1,580 KM built in the last 12

months

Over R$ 4.5 billion invested during the period

R$ million

365

+17% 9M11 x 9M12

9M

11

71 municipalities

connected

Market Performance (Jan - Sept 2012)

Financial Volume: Preferred Shares (CGAS5)

Ibovespa -4.27% Comgás PNA

4.02%

Comgás ON - 0.45%

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Appendix

Comgás: uma combinação de competências e princípios Comgás’ Shareholder Strucutre

SHELL BRAZIL HOLDING BV

6.34%

INTEGRAL

INVESTMENTS BV

71.91%

SHELL GAS BV

16.49%

BG SÃO PAULO INVESTMENTS

BV

83.51%

OTHER SHAREHOLDERS

(free float)

21.75%

SHELL BRAZIL HOLDING BV

6.34%

INTEGRAL

INVESTMENTS BV

11.86%

SHELL GAS BV

100%

OTHER SHAREHOLDERS

(free float)

21.75% 60.05%

Current Shareholder Strucutre Future Shareholder Structure(1)

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Listing of Comgás’ shares in the Stock Exchange: As inserted in the Edict of Privatisation and reflected in the Company’s Bylaws, Comgás is

a publicly traded company with it’s shares negotiated in the Stock Exchange, condition which must be maintained during the entire concession

period.

Note (1): As soon as the operation is concluded,, this shareholder structure will be informed to the market

Comgás: uma combinação de competências e princípios Comgás’ new controlling shareholder

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ABOUT COSAN

Cosan is one of the biggest private economic groups in Brazil, with business in energy and infrastrucutre segments;

Rumo Logística, Raízen, Cosan Lubrificantes e Especialidades and Radar Propriedades Agrícolas are companies which are part of the Group;

In the energy segment, Cosan forms a joint venture with Shell in Raízen:

One of the largest distributors of fuel in Brazil, with 4,600 Shell gas stations

Brazil’s largest and one of the world’s largest sugar, ethanol and cogeneration producers with 24 plants and a sugarcane grinding capacity of

65 million tons.

Largest sugar exporter in the world represented by Rumo Logística;

Along with Cosan Lubrificantes e Especialidades, Rumo Logística produces and distributes lubricants with the brands Mobil and Comma in Brazil

and in 3 other countries in South America and the United Kingdom;

With a pioneering iniciative in Brazil, Radar purchases, leases and sells arable land with high potential of valuation in the best regions of Brazil,

currently administrating over 150 thousand hectares of land.

Investor Relations investidores@comgas.com.br www.comgas.com.br/en/investors

ROBERTO LAGE CFO and

IRO

PAULO POLEZI Treasury and

Investor Relations

RENATA OLIVA Investor Relations

Rua Olimpíadas, nº 205, 10º floor - Vila Olímpia - CEP 04551-000 / São Paulo - SP - Brazil

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