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AXIA Energia S.A. outlines how its Class C preferred shares (PNC) will be redeemed or converted into common shares. PNCs were created in December 2025 and allocated at 0.2628378881074 PNC per common or A1/B1 preferred share. The board may redeem or convert any number of PNCs at a price equal to the previous trading day’s common share closing price.
Shareholders can elect, during a five-business-day window, to convert PNCs into common shares at a 1:1 ratio; otherwise, the default treatment is cash redemption. The plan targets at least 4% of PNCs converted each year from 2026 to 2030, with remaining PNCs addressed by 2031. Holders of ADRs backed by PNCs cannot opt for conversion; their underlying PNCs will be mandatorily redeemed, and proceeds will be distributed by the depositary within up to seven business days after payment on B3.
AXIA Energia S.A. has completed its migration to the Novo Mercado segment of the Brazilian stock market, described as the highest standard of corporate governance in Brazil. The company explains that this move simplifies its capital structure, should help increase trading liquidity of its shares, and reinforces its commitment to stronger corporate governance practices.
AXIA Energia S.A. director Corso Matte Ana Silvia reported an open-market purchase of 1,000 common shares, increasing her direct ownership to 14,200 shares. The filing also shows 1,000 shares held indirectly through her spouse. No derivative positions are listed, so her exposure is entirely in common shares.
Entities managed by Radar Gestora and associated with AXIA Energia S.A. director Pedro Batista de Lima Filho reported multiple open-market trades in AXIA Energia securities on June 3, 2026. The managed accounts bought and sold both Common Shares and Class “B1” Preferred Shares, resulting in net selling activity.
Across all reported trades, the managed accounts bought 45,000 shares and sold 400,000 shares, a net sale of 355,000 shares. Reported transaction prices use weighted average prices, stated in Brazilian reals and converted to U.S. dollars at 5.2540 BRL per USD using a U.S. Treasury exchange rate as of March 31, 2026.
After these trades, selected managed accounts held large residual positions, including 14,124,400 Class “B1” Preferred Shares and 799,250 Common Shares. The director is also shown with a direct holding of 51,115 Common Shares. Footnotes state that the entities and Mr. Filho disclaim beneficial ownership beyond their pecuniary interest.
AXIA Energia S.A. director Pedro Batista de Lima Filho reported indirect open-market sales of the company’s shares through managed accounts. On June 1, 2026, four sales totaled 555,300 shares. Two trades in Class "B1" Preferred Shares were for 17,500 and 54,800 shares at $10.72 per share. Two trades in Common Shares were for 116,900 and 366,100 shares at $9.75 per share.
The accounts involved are managed by Radar Gestora de Recursos Ltda., where Mr. Filho is a partner. Footnotes state that entities such as Maliko, Radar, Manuka, Tucurui, Xingo, and Infrad, together with Mr. Filho, disclaim beneficial ownership except to the extent of their pecuniary interest. After these transactions, reported holdings include 14,179,000 Class "B1" Preferred Shares and 390,500 Common Shares in certain managed accounts, plus 51,115 Common Shares held directly.
AXIA Energia S.A. director Pedro Batista de Lima Filho reported mixed trades in AXIA common and preferred shares through multiple managed accounts on May 29, 2026. Accounts managed by Radar Gestora bought 1,448,500 shares and sold 2,462,800, a net sale of 1,014,300 shares overall. Filho holds 51,115 common shares directly, while the managed accounts continue to hold large indirect positions. Footnotes state the accounts and Filho disclaim beneficial ownership except for their pecuniary interest.
AXIA Energia reports that S&P Global Ratings has affirmed its 'BB' issuer and bond ratings and kept the outlook stable. S&P now views management and governance as neutral after a Supreme Court–approved agreement that limits government interference and clarifies voting caps.
S&P expects AXIA to invest R$13 billion–R$14 billion in 2026 and about R$12 billion in 2027 while leverage falls from 4.7x debt to EBITDA in 2025 to the low‑4.0x area in 2027, with FFO to debt around 16%–17%. Free cash flow will be pressured by capex and compulsory loan payments, but transmission assets and migration to the free market are expected to support stable, mostly inflation-linked cash generation.
Liquidity is described as adequate, with R$27.7 billion in cash as of March 31, 2026 versus R$11.1 billion of short‑term debt. S&P highlights covenant headroom and notes ratings could be cut if Brazil is downgraded or if AXIA’s leverage stays above 5.5x with FFO to debt below 9%.
AXIA Energia S.A. reports that S&P has reaffirmed its global credit rating at BB with a stable outlook. S&P’s view is based on expectations that AXIA Energia will complete its planned investment program through 2026, even amid energy price volatility, and will reduce financial leverage while generating stronger cash flow.
S&P also revised its assessment of AXIA Energia’s management and governance from moderately negative to neutral, citing progress in risk reduction, greater legal certainty, and improvements in corporate governance that support execution of the company’s strategy.
AXIA Energia S.A. reported that its Board of Directors approved a major infrastructure contract and a change to its U.S. depositary receipt program. The board authorized Contract CT-SOCT-FO-001/2026 with Eletronet, totaling R$ 125,099,251.20, for the assignment of 6,268 km of dark fiber optic pairs over 240 months, involving AXIA Energia and its regional subsidiaries. The directors also approved migrating from a Level 2 ADR program to a sponsored Over-the-Counter Level 1 ADR program and empowered the Vice President of Finance and Investor Relations to execute all steps needed to implement this migration.
AXIA Energia S.A. completed the acquisition of 100% of the shares in Juno Participações e Investimentos S.A., which controls 50.1% of Tijoá Energia, for BRL 256 million after adjustments. This consolidates full ownership of the Três Irmãos hydroelectric power plant.
The Três Irmãos plant in Andradina, São Paulo has installed capacity of 808 MW, 2025 revenue of R$ 328 million, 2025 EBITDA of R$ 145 million, and a 2025 cash position of R$ 39 million, under a quota concession regime running until 2044. Existing civil structures allow installation of three additional generating units, supporting potential future expansion. The company states that the deal aligns with its strategic plan focused on portfolio optimization, capital allocation, risk mitigation, and simplifying its corporate structure.