Eletrobras (NYSE: EBR) director adds to Class C preferred share stake

Rhea-AI Filing Summary

Brazilian Electric Power Co (Eletrobras) director Ana Silvia Corso Matte increased her stake through an open-market purchase. She bought 500 Class "C" Preferred Shares at $9.97 per share, bringing her direct holdings in this class to 5,300 shares.

These Class "C" Preferred Shares automatically convert into Common Shares on a 1:1 basis under the company’s bylaws, with 4% of the originally issued Class "C" Preferred Shares converting in each fiscal year from 2026 to 2030 and all remaining shares converting in fiscal year 2031, assuming they are not redeemed earlier.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Corso Matte Ana Silvia

(Last) (First) (Middle)

AVENIDA GRACA ARANHA, NO. 26

CENTRO

(Street)

RIO DE JANEIRO 20030-000

(City) (State) (Zip)

BRAZIL

(Country)

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

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

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

2a. Foreign Trading Symbol
[AXIA7]

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class "C" Preferred Shares	(1)	03/20/2026		P		500		(1)	(1)	Common Shares	500	$9.97(2)	5,300	D

Explanation of Responses:

1. Pursuant to Article 11 of the Bylaws of Eletrobras - Brazilian Electric Power Co. (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.

2. The exercise price of the derivative security was denominated in Brazilian reais ("BRL"). The original exercise price was BRL 54.60 per share, which has been converted to U.S. dollars ("USD") using the U.S. Department of the Treasury Bureau of the Fiscal Service Treasury Reporting Rates of Exchange as of December 31, 2025 (the most recently published quarterly rate, applicable to transactions occurring through March 31, 2026), at a rate of 5.4770 BRL per USD (fiscaldata.treasury.gov). The converted exercise price reported herein is $9.97 per share. Brokerage commissions and other costs of execution, if any, have been excluded from the reported price.

Remarks:

	/s/ Ana Silvia Corso Matte	03/23/2026
	** 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 4 (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 4: SEC 1474 (03-26)

FAQ

What did Eletrobras (EBR) director Ana Silvia Corso Matte buy?

Ana Silvia Corso Matte bought 500 Class "C" Preferred Shares of Eletrobras in an open-market transaction at $9.97 per share. This purchase increased her direct holdings in this preferred class to 5,300 shares, according to the reported post-transaction balance.

At what price were the Eletrobras (EBR) Class "C" Preferred Shares purchased?

The Class "C" Preferred Shares were purchased at $9.97 per share. This price reflects a conversion from the original exercise price of BRL 54.60 using a BRL/USD rate of 5.4770, based on U.S. Treasury reporting exchange rates.

How many Eletrobras (EBR) Class "C" Preferred Shares does the director hold after the trade?

After the transaction, Ana Silvia Corso Matte holds 5,300 Class "C" Preferred Shares directly. The filing shows the 500-share open-market purchase raised her position from 4,800 to 5,300 shares in this specific preferred class of Eletrobras stock.

How do Eletrobras (EBR) Class "C" Preferred Shares convert into common shares?

Class "C" Preferred Shares automatically convert into Common Shares on a 1:1 basis under Eletrobras’ bylaws. Four percent of the originally issued Class "C" shares convert each fiscal year from 2026 through 2030, with all remaining shares converting in fiscal year 2031 if not redeemed earlier.

Why is the Eletrobras (EBR) Class "C" Preferred Share price shown in U.S. dollars?

The reported price is shown in U.S. dollars because the original exercise price of BRL 54.60 per share was converted using a BRL/USD rate of 5.4770. That official Treasury exchange rate produced a translated price of $9.97 per share for disclosure purposes.