Eletrobras (AXIA) officer reports R$42.00 performance-based stock options

Rhea-AI Filing Summary

BRAZILIAN ELECTRIC POWER CO executive Eduardo Haiama filed a Form 3 reporting initial holdings of stock options linked to common shares. The options cover 770,331 and 231,094 underlying common shares, issued under the company’s restricted share-based compensation program at an exercise price of R$42.00 per share.

Vesting is performance- and time-based: one-third vests three years from grant, with additional portions on the fourth and fifth anniversaries, subject to conditions. Vested options must be exercised within 120 days after each maturity period, and any shares received are subject to a 180-day lock-up. The exercise price accrues 5% annual interest from grant to exercise.

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^*

Haiama Eduardo

(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

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

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

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

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)

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
Stock Options(1)	(2)	(3)	Common Shares	770,331	$42(4)	D
Stock Options(1)	(2)	(3)	Common Shares	231,094	$42(4)	D

Explanation of Responses:

1. The stock options were issued pursuant to the Eletrobras - Brazilian Electric Power Co.'s (the "Company") restricted share based compensation program. Exercise is conditioned up the achievement of certain performance goals, as set forth in the award agreement, and the satisfaction of certain other conditions.

2. 1/3 of the stock options vest 3 years from grant date, with the remaining vesting on the 4th and 5th anniversaries from grant date, subject to certain conditions, as set forth in the award agreement.

3. The reporting person must exercise vested options within 120 days after each respective maturity period, failing which the options lapse. Upon exercise, the reporting person is subject to a lock-up period of 180 calendar days during which the shares may not be sold, transferred, or encumbered.

4. The exercise price is R$42.00 per share accrues interest at a rate of 5% per annum from grant date to exercise date and is subject to certain other adjustments.

Remarks:

*Executive Vice-President of Finance and Investor Relations. 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/ Eduardo Haiama	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 AXIA Form 3 filing by Eduardo Haiama report?

The Form 3 reports initial beneficial ownership of stock options by executive Eduardo Haiama at Brazilian Electric Power Co, detailing option grants, underlying common shares, vesting schedule, exercise terms, and lock-up conditions under the company’s restricted share-based compensation program.

How many common shares are covered by Haiama’s stock options at AXIA?

Haiama’s stock options relate to 770,331 and 231,094 underlying common shares. These figures show the potential equity exposure from his compensation package if performance and service conditions are met and the options are ultimately exercised.

What is the exercise price of the Brazilian Electric Power Co stock options?

The stock options have an exercise price of R$42.00 per share. This price accrues interest at 5% per year from the grant date to the exercise date, as specified in the compensation program’s award agreement and related terms.

How do the AXIA stock options granted to Haiama vest over time?

The options vest in stages: one-third after three years from the grant date, with further vesting on the fourth and fifth anniversaries. Vesting depends on performance goals and other conditions defined in the award agreement and compensation program.

What exercise and lock-up restrictions apply to Haiama’s stock options?

Haiama must exercise vested options within 120 days after each maturity period or they lapse. After exercise, the resulting shares are subject to a 180-day lock-up, during which they cannot be sold, transferred, or encumbered.

Are Haiama’s stock options at Brazilian Electric Power Co performance-based?

Yes. The filing notes that the stock options were issued under a restricted share-based compensation program, with exercise conditioned on achieving specified performance goals and satisfying other conditions outlined in the award agreement.