ENEVA S.A.

CNPJ/MF: 04.423.567/0001-21
NIRE: 33.3.0028402-8
(Publicly Held Company)

NOTICE TO SHAREHOLDERS
ENEVA S.A. (Company) hereby informs its shareholders that the Board of Directors of the
Company approved, at the Board of Directors Meeting held on May 9, 2014, the Companys private
capital increase, within the limits of the authorized capital, under the terms and conditions described
below:
I. Number of Shares to be issued and Rights Granted to Such Shares: The Company will issue,
by means of a private subscription, within the limits of the Companys authorized capital, in
accordance with article 6 of its bylaws, 249,212,598 (two hundred and forty-nine million, two hundred
and twelve thousand, five hundred and ninety-eight) new common shares of the Company, all
registered shares with no par value, free and clear or any encumbrances, which will grant to its
holders the same rights and obligations of the current issued common shares of the Company. The
shares to be issued shall be entitled to receive full dividends, interest on equity capital and any other
capital compensations that might be approved by the Company after the confirmation of the capital
increase.
II. Corporate Capital Increase: The Companys corporate capital shall be increased in the amount of
R$316,499,999.46 (three hundred and sixteen million, four hundred and ninety-nine thousand, nine
hundred and ninety-nine reais and forty-six cents), from 4,536,608,413.70 (four billion, five hundred
and thirty-six million, six hundred and eight thousand, four hundred and thirteen reais and seventy
cents) to R$4,853,108,413.16 (four billion, eight hundred and fifty-three million, one hundred and eight
thousand, four hundred and thirteen reais and sixteen cents) (Private Capital Increase).
III. Issuance Price per Share: The issuance price per share is of R$1.27, which was determined in
accordance with section III of paragraph 1 of article 170 of Law No. 6,404/76 (Brazilian Corporate
Law). The issuance price was calculated based on the shares market closing price of the same date
as the Board of Director Meeting which approved the issuance, as disclosed to the market by means
of a notice of material fact dated May 12, 2014. The issuance price is justified to the extent it is part of
the commitment given by DD Brazil Holdings S..r.l. (E.ON) to subscribe for shares in an amount
equivalent to up to R$ 120,000,000.00 (one hundred and twenty million reais) in the context of the
Private Capital Increase, as provided for on the notice of material fact dated May 12, 2014.
IV. Payment of the Shares: The payment for the shares subscribed in the context of the capital
increase shall be made on the date of the respective subscription, in Brazilian currency.
V. Preemptive Right: (a) The shareholders of the Company, on the present date, shall have
preemptive rights for the subscription of the newly-issued shares and will be entitled to subscribe or
assign a certain amount of shares on a pro-rata basis to such shareholders equity interest held on
the Company on the present date, corresponding to 0.35473867 new shares to each share held by
the shareholders on the present date (the equivalent to 35.473867%).
(b) The preemptive right shall be exercised from May 14, 2014 (including) until June 13, 2014 (Initial
Preemptive Right Period).
VI. Ex-Subscription Trading: The shares of the Company acquired as from May 14, 2014 (including)
shall not be entitled to the preemptive right for the subscription of the capital increase described
herein and, from such date (including), the shares of the Company shall be traded ex-subscription
rights.

VII. First Additional Subscription Period of Unsubscribed Shares: (a) Upon the end of the Initial
Preemptive Right Period and after the custodian bank informs the Company of the quantity of newly-
issued shares subscribed for during the Initial Preemptive Right Period, the shareholders or
assignees of preemptive rights which have expressed their interest in the respective subscription
commitment (Boletim de Subscrio) to subscribe for additional shares shall confirm, during a 3
(three)-day period counted as from the first business day after the date of publication of the notice to
shareholders informing the number of unsubscribed shares (sobras de aes) after the Initial
Preemptive Right Period, such interest by signing a new subscription commitment for the subscription
of the additional shares (First Additional Preemptive Right Period).
(b) The quantity of additional shares that each interested shareholder or assignees of preemptive
rights shall be entitled to subscribe for during the First Additional Preemptive Right Period shall be
calculated by multiplying the quantity of newly-issued shares that remain unsubscribed after the Initial
Preemptive Right Period by the quantity of shares subscribed for by the interested shareholder or
assignees of preemptive rights during the Initial Preemptive Right Period and dividing the product by
the total quantity of shares subscribed for by all interested shareholders or assignees of preemptive
rights during the Initial Preemptive Right Period.
(c) The First Additional Preemptive Right Period is estimated to begin on June 20, 2014 (including)
and end on June 24, 2014.
(d) Additional information on the First Additional Preemptive Right Period will be disclosed by the
Company after the end of the Initial Preemptive Right Period.
VIII. Second Additional Subscription Period of Unsubscribed Shares: (a) Upon the end of the
First Additional Preemptive Right Period and after the custodian bank informs the Company of the
quantity of shares subscribed for during the First Additional Preemptive Right Period, if there are still
shares that remain unsubscribed, then, the shareholders and assignees of the preemptive rights
which have expressed their interest in the respective subscription form (Boletim de Subscrio) to
subscribe for additional shares shall confirm, during a 3 (three)-day period counted as from the first
business day after the date of publication of the notice to shareholders informing the amount of
unsubscribed shares that remain unsubscribed after the First Additional Preemptive Right Period,
such interest by signing a new subscription form for the subscription of the additional shares
(Second Additional Preemptive Right Period).
(b) The quantity of shares that each interested shareholder or assignee of the preemptive rights shall
be entitled to subscribe for during this Second Additional Preemptive Right Period shall be calculated
by multiplying the quantity of shares that remain unsubscribed after the Initial Preemptive Right Period
and the First Additional Preemptive Right Period by the quantity of shares subscribed for by the
interested shareholder or assignee of the preemptive rights during the Initial Preemptive Right Period
and the First Additional Preemptive Right Period and dividing the product by the total quantity of
shares subscribed for by all interested shareholders or assignees of the preemptive rights during the
Initial Preemptive Right Period and the First Additional Preemptive Right Period.
(c) The Second Additional Preemptive Right Period is estimated to begin on June 30, 2014 (including)
and end on July 02, 2014.
(d) Additional information on the Second Additional Preemptive Right Period will be disclosed by the
Company after the end of the First Preemptive Right Period.
IX. Subscription by shareholder E.ON: The shareholder E.ON undertook a commitment to
subscribe shares up to the limit of R$ 120,000,000.00 (one hundred and twenty million reais), in
accordance with the notice of material fact dated May 12, 2014. In case of partial homologation of the
Private Capital Increase, E.ON hereby waives the right to review its investment decision.
X. Unsubscribed shares. The unsubscribed shares that remain unsubscribed after the Second
Additional Preemptive Right Period shall be cancelled and the Board of Directors shall proceed with

the partial homologation of the Private Capital Increase in accordance with the terms and conditions
set forth in item XI below.
XI. Partial Homologation. In view of the Companys immediate cash needs, in case there remain any
unsubscribed share after the Second Additional Preemptive Right Period, the Board of Directors shall
proceed with the partial homologation of the Private Capital Increase, provided that at least
R$119,959,257.16 (one hundred and nineteen million, nine hundred and fifty-nine thousand, two
hundred and fifty-seven reais and sixteen cents), equivalent to 94,456,108 (ninety-four million, four
hundred and fifty-six thousand and one hundred and eight) new common shares, were subscribed. In
case of partial homologation of the Private Capital Increase, the subscribers shall be entitled to
review, total or partially, their investment decision, within 5 (five) business days counting as from the
release of Shareholders Notice regarding the end of the Second Additional Preemptive Right Period.
The shareholders who wish to review their investment decision shall expressly manifest their intention
in the respective subscription form (Boletim de Subscrio). The shareholders who review their
investment decision shall receive the amount paid by them for the subscribed shares, without
monetary adjustment, totally or partially, depending on the number of shares that were subject to the
right of review.
XII. Confirmation: After the end of the right of review, the Board of Directors of the Company shall
hold a meeting in order to confirm the final amount of the capital increase and the total number of
shares issued.
XIII. Proceedings for the Subscription: The subscription rights shall be exercised from May 14,
2014 (including) by the shareholders or assignees of preemptive rights in the following manner: (i)
those shareholders or assignees of preemptive rights whose preemptive rights are negotiated in
BM&FBOVESPA shall exercise its rights by contacting their respective custodian agents; and (ii)
those shareholders or assignees of preemptive rights whose shares are held in custody with the
bookkeeper bank, through the execution of the relevant documents at any specialized branch of Ita,
upon the payment of the subscription amount and the completion of the respective subscription form
that shall be available at the following addresses:
Agncia Especializada Valores Mobilirios Braslia
SCS Quadra 3 Edif. DAngela, 30 Bloco A, Sobreloja
Centro Braslia/DF
CEP: 70300-500
Agncia Especializada Valores Mobilirios Belo Horizonte
Av. Joo Pinheiro, 195 Subsolo
Centro Belo Horizonte/MG
CEP: 30130-180
Agncia Especializada Valores Mobilirios Curitiba
R. Joo Negro, 65 Sobreloja
Centro Curitiba/PR
CEP: 80010-200
Agncia Especializada Valores Mobilirios Porto Alegre
R. Sete de Setembro, 746 Trreo
Centro Porto Alegre/RS
CEP: 90010-190
Agncia Especializada Valores Mobilirios Rio de Janeiro
Av. Almirante Barroso, 52 - 2 andar
Centro Rio de Janeiro/RJ
CEP: 20050-005
Agncia Especializada Valores Mobilirios So Paulo
R. Boa Vista, 176 1 Subsolo

Centro - So Paulo/SP
CEP: 01092-900
Agncia Especializada Valores Mobilirios Salvador
Av. Estados Unidos, 50 - 2 AND - (ED SESQUICENTENRIO)
Comrcio - Salvador/BA
CEP: 40020-010
Further information regarding the capital increase and the conditions for the subscription and payment
of the newly-issued shares may be obtained by means of solicitations sent to the following address:
ri@eneva.com.br or by telephone with shareholders service of Itau on the following numbers: (55 11)
3003-9285 for capitals and metropolitan regions, or 55 0800-7209285, for other locations.

Rio de Janeiro, May 12, 2014

Fabio H. Bicudo
CEO and Investor Relations Officer
MPX ENERGIA S.A.