<SEC-DOCUMENT>0001292814-25-004341.txt : 20251219
<SEC-HEADER>0001292814-25-004341.hdr.sgml : 20251219
<ACCEPTANCE-DATETIME>20251219163930
ACCESSION NUMBER:		0001292814-25-004341
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20251231
FILED AS OF DATE:		20251219
DATE AS OF CHANGE:		20251219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BRAZILIAN ELECTRIC POWER CO
		CENTRAL INDEX KEY:			0001439124
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34129
		FILM NUMBER:		251588109

	BUSINESS ADDRESS:	
		STREET 1:		RUA DA QUITANDA, 196, 24TH FLOOR
		STREET 2:		CENTRO
		CITY:			RIO DE JANEIRO
		STATE:			D5
		ZIP:			20091-005
		BUSINESS PHONE:		55 21 2514 5891

	MAIL ADDRESS:	
		STREET 1:		RUA DA QUITANDA, 196, 24TH FLOOR
		STREET 2:		CENTRO
		CITY:			RIO DE JANEIRO
		STATE:			D5
		ZIP:			20091-005
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>axia20251219_6k1.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<HR SIZE="2" NOSHADE ALIGN="LEFT" COLOR="Black" STYLE="width: 100%">

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" COLOR="Black" STYLE="width: 21%">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Report of Foreign Private Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16 of the</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Securities Exchange Act of 1934</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>For the month of December, 2025</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Commission File Number 1-34129</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" COLOR="Black" STYLE="width: 21%">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>CENTRAIS EL&Eacute;TRICAS BRASILEIRAS S.A.
- ELETROBR&Aacute;S</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0"><BR>
<BR>
<BR>
</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>BRAZILIAN ELECTRIC POWER COMPANY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Translation of Registrant's name into English)</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0"><BR>
<BR>
<BR>
</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Rua da Quitanda, 196 &ndash; 24th floor,<BR>
Centro, CEP 20091-005,<BR>
Rio de Janeiro, RJ, Brazil</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0"><BR>
<BR>
</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: center">Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: center">Form 20-F ___X___ Form 40-F _______</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: center">Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: center">Yes _______ No___X____</P>
<P STYLE="font: 12pt Verdana, Helvetica, Sans-Serif; margin: 1.1pt 165.7pt 0 2.3in; text-align: center"><B></B></P>

<P STYLE="font: 12pt Verdana, Helvetica, Sans-Serif; margin: 1.1pt 165.7pt 0 2.3in; text-align: center"><B></B></P>

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<P STYLE="font: italic 12pt Verdana,sans-serif; margin-top: 0; margin-bottom: 6pt; letter-spacing: 0.75pt; text-align: center">&nbsp;<IMG SRC="axia202512196k1_001.jpg" ALT=""></P>

<P STYLE="font: italic 12pt Verdana,sans-serif; margin-top: 0; margin-bottom: 6pt; letter-spacing: 0.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: italic 12pt Verdana,sans-serif; margin-top: 0; margin-bottom: 6pt; letter-spacing: 0.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: italic 12pt Verdana,sans-serif; margin-top: 0; margin-bottom: 6pt; letter-spacing: 0.75pt; text-align: center"></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt"><B>PNR&rsquo;s Redemption</B></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">Rio de Janeiro, December 19, 2025, AXIA Energia, further to
the Notice to Shareholders and Material Fact disclosed on December 8, 2025, announces that, as resolved at the Extraordinary General Meeting
held on this date, the compulsory redemption of the class &ldquo;R&rdquo; preferred shares - PNR (&ldquo;<U>Redemption</U>&rdquo;) was
approved.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">The Redemption will be carried out on a compulsory and automatic
basis, immediately after the completion of the mandatory conversions of all currently outstanding preferred shares issued by the Company,
at the price of R$ 1.2994705188032 per redeemed PNR share (&ldquo;<U>Redemption Value</U>&rdquo;).</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">For purposes of the Redemption, the shareholding position
as of the end of December 19, 2025 will be considered as the record date. The payment of the Redemption Value will be made in Brazilian
currency, in a single installment, on January 13, 2026.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt"><B>1. Brazilian resident investors</B></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">Any gains realized by shareholders holding PNR shares who
are residents in Brazil, including individuals and legal entities, investment funds or other entities, as a result of the Redemption may
be subject to the levy income tax and other taxes, pursuant to the legal and regulatory rules applicable to each category of investor.
Such shareholders are responsible for consulting their own advisors to assess the applicable taxation and for payment of any taxes due.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt"><B>2. Non-resident investors</B></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">Pursuant to applicable law, the Company may withhold a portion
of the amount payable to shareholders who are not resident in Brazil, in an amount corresponding to the withholding income tax - IRRF
levied on any capital gain determined as a result of the Redemption.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">The capital gain will correspond to the positive difference,
if any, between:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the Redemption Value;
and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the acquisition
cost of the Company&rsquo;s shares held by the non-resident investor.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">The IRRF will be withheld and collected by the Company in
accordance with the legal and regulatory rules applicable to each type of non-resident investor, subject to the following rates:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15%,</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15% to 22.5%, or</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">25%, in the case
of a shareholder resident in a country or dependency with favorable taxation, pursuant to the legislation and regulations of the Brazilian
Federal Revenue Service. Any withholding IRRF that may be withheld and paid by the Company will be deducted from the amount payable to
shareholders as the Redemption Value.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">In order to enable the calculation of any capital gain, non-resident
shareholders must complete and electronically submit to the Company, directly or through their custody agents, the template spreadsheet
attached hereto as <B><U>Schedule I</U></B> to this Notice to Shareholders.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">The spreadsheet must be completed and sent by e-mail to the
following electronic address: resgate@axia.com.br, with the subject line &ldquo;PNR Redemption &ndash; Capital Gain,&rdquo; together with
proper and supporting documentation evidencing the reported acquisition cost (<I>e.g.,</I> broker statements), which must be attached
to the same email. The information and documents must be sent to the Company by <B>6:00 p.m. on January 2, 2026.</B></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 8pt"><B><IMG SRC="axia202512196k1_002.jpg" ALT="">&nbsp;</B></P>


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<P STYLE="text-align: center; font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 8pt"><IMG SRC="axia202512196k1_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">The Company will rely exclusively on the information and documents
provided by the shareholders for purposes of calculating the capital gain, and such shareholders shall be fully responsible for the truthfulness,
accuracy and completeness of the information provided.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">Pursuant to the applicable legislation and regulations of
the Brazilian Federal Revenue Service, the Company will:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">deem the acquisition
cost to be zero for non-resident shareholders who fail to submit the information and supporting documentation within the deadline and
in the manner indicated above; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">apply a 25% tax
rate to the gains of non-resident shareholders who fail to inform their country or dependency of residence or tax domicile.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 8pt">For additional clarifications, shareholders may contact the
Company&rsquo;s Investor Relations department at the e-mail ri@axia.com.br.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0.05pt 49.6pt 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0.05pt 49.6pt 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0.05pt 49.6pt 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 49.6pt 0 14.2pt; text-align: center; text-indent: 21.25pt">Eduardo Haiama</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 49.6pt 0 14.2pt; text-align: center; text-indent: 21.25pt"><B>Vice-president
Financial and Investor Relations</B></P>



<P STYLE="font: italic 12pt Verdana,sans-serif; margin-top: 0; margin-bottom: 6pt; letter-spacing: 0.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: italic 12pt Verdana,sans-serif; margin-top: 0; margin-bottom: 6pt; letter-spacing: 0.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: italic 12pt Verdana,sans-serif; margin: 0 0 6pt; letter-spacing: 0.75pt; text-align: center"></P>

<P STYLE="font: 5pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="axia202512196k1_002.jpg" ALT=""></P>

<P STYLE="font: 5pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0.9pt 0 1pt; text-align: justify"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 13.5pt; text-indent: 24.5pt">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 24.5pt">Date: December 19, 2025</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 11pt Verdana, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">CENTRAIS EL&Eacute;TRICAS BRASILEIRAS S.A. - ELETROBR&Aacute;S</FONT></TD></TR>
<TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 11pt Verdana, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 11pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">/</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">S</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">/&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Eduardo Haiama</FONT></P>
<HR SIZE="1" NOSHADE ALIGN="LEFT" COLOR="Black" STYLE="width: 100%"></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 11pt Verdana, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Eduardo Haiama</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Vice-President of Finance and Investor Relations</B></P></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">This document may contain estimates and projections that are not statements
of past events but reflect our management&rsquo;s beliefs and expectations and may constitute forward-looking statements under Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The words &ldquo;believes&rdquo;,
&ldquo;may&rdquo;, &ldquo;can&rdquo;, &ldquo;estimates&rdquo;, &ldquo;continues&rdquo;, &ldquo;anticipates&rdquo;, &ldquo;intends&rdquo;,
&ldquo;expects&rdquo;, and similar expressions are intended to identify estimates that necessarily involve known and unknown risks and
uncertainties. Known risks and uncertainties include, but are not limited to: general economic, regulatory, political, and business conditions
in Brazil and abroad; fluctuations in interest rates, inflation, and the value of the Brazilian Real; changes in consumer electricity
usage patterns and volumes; competitive conditions; our level of indebtedness; the possibility of receiving payments related to our receivables;
changes in rainfall and water levels in reservoirs used to operate our hydroelectric plants; our financing and capital investment plans;
existing and future government regulations; and other risks described in our annual report and other documents filed with the CVM and
SEC. Estimates and projections refer only to the date they were expressed, and we do not assume any obligation to update any of these
estimates or projections due to new information or future events. Future results of the Company&rsquo;s operations and initiatives may
differ from current expectations, and investors should not rely solely on the information contained herein. This material contains calculations
that may not reflect precise results due to rounding.</P>
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M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
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