Brazilian Electric Power (AXIA3) director details direct and indirect stakes

Rhea-AI Filing Summary

Brazilian Electric Power Co director Vicente Falconi Campos filed an initial ownership report detailing his equity interests. He directly holds Class “B1” and Class “C” preferred shares, plus 40,476 restricted stock units that each equal one common share. Additional Class “B1” and Class “C” preferred shares are held indirectly through investment funds Startours FIA IE and Tuca FIA Responsabilidade Limitada, where he is a controlling shareholder but disclaims beneficial ownership beyond his economic interest. The Class “C” preferred shares automatically convert into common shares on a 1:1 basis, with 4% of originally issued Class “C” shares converting in each fiscal year from 2026 to 2030 and all remaining shares converting in fiscal year 2031, unless earlier redeemed.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Falconi Campos Vicente

(Last) (First) (Middle)

AVENIDA GRACA ARANHA, NO. 26

CENTRO

(Street)

RIO DE JANEIRO 20030-000

(City) (State) (Zip)

BRAZIL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
BRAZILIAN ELECTRIC POWER CO [ AXIA3 ]

3a. Foreign Trading Symbol
[AXIA6 AXIA7]

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class "B1" Preferred Shares	212,799	D
Class "B1" Preferred Shares	3,818,090	I	See Footnotes(1)(2)
Class "B1" Preferred Shares	2,232,989	I	See Footnotes(3)(4)
Restricted Stock Units(5)	40,476	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class "C" Preferred Shares	(6)	(6)	Common Shares	52,567	(6)	D
Class "C" Preferred Shares	(6)	(6)	Common Shares	980,750	(6)	I	See Footnotes(1)(2)
Class "C" Preferred Shares	(6)	(6)	Common Shares	573,588	(6)	I	See Footnotes(3)(4)

Explanation of Responses:

1. Vicente Falconi Campos ("Mr. Campos") is a controlling shareholder in STARTOURS FIA IE ("Startours") which directly holds 3,818,090 Class "B1" Preferred Shares and 980,750 Class "C" Preferred Shares of Eletrobras - Brazilian Electric Power Co. (the "Company"). Mr. Campos may be deemed to indirectly beneficially own these shares by virtue of control over Startours.

2. For the purposes of this filing, each of Startours and Mr. Campos disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Startours or Mr. Campos is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.

3. Mr. Campos is a controlling shareholder in TUCA FIA RESPONSABILIDADE LIMITADA ("Tuca") which directly holds 2,232,989 Class "B1" Preferred Shares and 573,588 Class "C" Preferred Shares of the Company. Mr. Campos may be deemed to indirectly beneficially own these shares by virtue of control over Tuca.

4. For the purposes of this filing, each of Tuca and Mr. Campos disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Tuca or Mr. Campos is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.

5. Each restricted stock unit ("RSU") is the economic equivalent of one Common Share, is settled in Common Shares on a 1:1 basis, and was issued pursuant to the Company's restricted share based compensation program. These RSUs are reserved for the Board of Directors.

6. Pursuant to Article 11 of the Bylaws of the Company, the Class "C" Preferred Shares shall be automatically converted into Common Shares, assuming such Class "C" Preferred Shares are not earlier mandatorily redeemed by the Company in accordance with its Bylaws, at a ratio of 1:1, as follows: * 4% of the total volume of originally-issued Class "C" Preferred Shares, allocated proportionally among all holders, in each of the fiscal years 2026, 2027, 2028, 2029 and 2030; and * all Class "C" Preferred Shares remaining, in fiscal year 2031.

Remarks:

The Company currently trades on the B3 S.A. - Brasil, Bolsa, Balcao (B3) under the following ticker symbols, "AXIA3" for its Common Shares; "AXIA6" for its Class "B1" Preferred Shares and "AXIA7" for its Class "C" Preferred Shares.

	/s/ Vicente Falconi Campos	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does the Form 3 filing for AXIA by Vicente Falconi Campos show?

The Form 3 shows director Vicente Falconi Campos’ initial ownership in Brazilian Electric Power Co, including direct and indirect preferred share stakes and 40,476 restricted stock units that each represent one common share under the company’s compensation program.

How many Brazilian Electric Power Co RSUs does Vicente Falconi Campos report?

He reports 40,476 restricted stock units. Each RSU is economically equivalent to one common share and is settled 1:1 in common shares under the company’s restricted share-based compensation program reserved for the Board of Directors, aligning director compensation with shareholder interests.

How are AXIA Class "C" preferred shares treated in this Form 3 filing?

The filing explains that Class “C” preferred shares automatically convert into common shares at a 1:1 ratio. Four percent of originally issued Class “C” shares convert each fiscal year from 2026 through 2030, with all remaining shares converting in fiscal year 2031, unless earlier redeemed.

What indirect Brazilian Electric Power Co holdings does Startours FIA IE have?

Startours FIA IE directly holds 3,818,090 Class “B1” preferred shares and 980,750 Class “C” preferred shares of Brazilian Electric Power Co. Vicente Falconi Campos is a controlling shareholder of Startours and may be deemed to indirectly own these shares through his control of the fund.

What indirect AXIA holdings does Tuca FIA Responsabilidade Limitada report?

Tuca FIA Responsabilidade Limitada holds 2,232,989 Class “B1” preferred shares and 573,588 Class “C” preferred shares of Brazilian Electric Power Co. The filing states Vicente Falconi Campos controls Tuca and may be deemed to indirectly own these shares through that control relationship.

Does Vicente Falconi Campos admit full beneficial ownership of all AXIA shares reported?

No. Both Startours, Tuca and Mr. Campos disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest. The filing specifies it should not be considered an admission of beneficial ownership for Section 16 or other legal purposes.