Brazilian Electric Power Co. Insider Transaction and Share Conversion

This SEC filing details a transaction by Ana Silvia Corso Matte, a director at Brazilian Electric Power Co. The filing indicates a direct ownership of 11,700 common shares and 3,000 Class "B1" Preferred Shares following a transaction. Notably, the filing references a mandatory conversion of Class "C" Preferred Shares into Common Shares, occurring at a 1:1 ratio between fiscal years 2026 and 2031, as per Article 11 of the Company's Bylaws. This automatic conversion will happen in stages, with 4% of the originally-issued Class "C" Preferred Shares converted each year from 2026 to 2030, and any remaining shares converted in 2031. The filing also notes the company trades on the B3 under ticker symbols AXIA3 for common shares, and AXIA6 and AXIA7 for preferred shares.