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Debentures

12 Months Ended

Dec. 31, 2022

21.	Debentures

Schedule of debentures
									Contractual	Effective		12.31.2022	12.31.2021
					Issue	Number of	Final	Payment	financial	interest	Contract
Company	Issue	Characteristics	Allocation	Guarantees	Date	installment	maturity	of charges	charges p.a.	rate p.a.	amount
Copel	8^th	(a)	Payment of the 6^th issue of debentures and working capital increase	Personal guarantee	06.14.2019	1	06.14.2022	Half-yearly	106.0% of DI	110.93% of DI	500,000	-	502,400
Copel GeT	3^rd	(a)	Working capital or used to make investments in the issuer.	Personal guarantee	10.20.2017	3	10.20.2022	Half-yearly	126.0% ofDI	131.21% of DI	1,000,000	-	339,767
	4^th	(a)	Full early redemption of the 4^th issue of the Company’s trade promissory notes and partial payment of the 1^st amortization installment of the 2^nd issue of debentures.		07.23.2018	3	07.23.2023	Half-yearly	126.0% ofDI	133.77% of DI	1,000,000	357,573	690,311
	5^th	(b)	Reimbursement of expenses related to the construction of the Transmission Lines Araraquara II - Taubaté, Assis - Londrina and Foz do Chopim.		09.25.2018	5	09.15.2025	Half-yearly	IPCA + 7.6475%	IPCA+ 8.3295%	290,000	225,643	284,483
	6^th (1^st serie)	(c)	Full early redemption of the 5^th issue of the Company’s trade promissory notes and partial payment of the 2^nd amortization installment of the 2^nd issue of debentures.		07.15.2019	2	07.15.2024	Half-yearly	109.0% of DI	111.25% of DI	800,000	852,816	825,358
	6^th (2^nd serie)		Reimbursement of expenses related to the Colíder HPP and Baixo Iguaçu HPP projects		07.15.2019	1	07.15.2025	Half-yearly	IPCA + 3.90%	IPCA+ 4.46%	200,000	251,363	237,650
	7^th (1^st serie)		Reinforcement of the Issuer's working capital; amortization and/or reimbursement of cash of the principal portion of the 3^rd and 4^th issue of debentures.		10.15.2021	2	10.15.2026	Half-yearly	DI + spread 1.38%	DI + spread 1.45%	1,133,363	1,166,982	1,148,216
	7^th (2^nd serie)		Investments for expansion, renovation or improvement and/or reimbursement of expenses within the scope of the Projects: Improvements of Gov. Bento Munhoz da Rocha Netto HPP; Implementation of the Assets of Lot “E”, from Aneel Auction No. 05/2015; Investments in Mata de Santa Genebra Transmissão S.A. and Bela Vista Geração de Energia S.A.		10.15.2021	3	10.15.2031	Half-yearly	IPCA + 5.7138%	IPCA + 6.1033%	366,637	397,825	374,658
Copel DIS	3^rd	(a)	Working capital or used to make investments in the issuer.	Personal guarantee	10.20.2017	2	10.20.2022	Half-yearly	126.0% of DI	130.85% of DI	500,000	-	254,824
	4^th	(a)	Working capital and payment of the 1^st installment of amortization of the 2^nd issue of debentures.		09.27.2018	3	09.27.2023	Half-yearly	DI + spread 2.70%	CDI + 3.96%	1,000,000	346,895	684,185
	5^th (1^st serie)	(c)	Investment for expansion, renovation or improvement and reimbursement of expenses of the Issuer's electricity distribution network linked to concession contract No. 46/1999 of ANEEL.		11.15.2019	3	11.15.2027	Half-yearly	IPCA + 4.20%	IPCA+ 4.61%	500,000	618,209	584,489
	5^th (2^nd serie)		Reinforcement of working capital and recomposition of cash by the final amortization of the 2^nd issue of debentures.		11.15.2019	2	11.15.2022	Half-yearly	DI + spread 1.45%	CDI + 1.65%	350,000	-	177,187
	6^th (1^st serie)		Reinforcement of working capital and amortization of the first installment of the principal of the debentures of each of the Issuer's following issues: 3^rd, 4^th and 5^th Issue.		06.16.2021	2	06.15.2026	Half-yearly	CDI + spread 1.95%	CDI + 2.02%	1,000,000	1,006,449	1,005,102
	6^th (2^nd serie)		Investment for expansion, renovation or improvement and reimbursement of expenses of the Issuer's electricity distribution network linked to concession contract No. 46/1999 of ANEEL.		06.16.2021	3	06.15.2031	Half-yearly	IPCA + 4.7742%	IPCA + 5.1564%	500,000	559,894	529,366
	7^th (1^st serie)	(e)	Reinforcement of working capital; redemption of 3^rd issue debentures; amortization of the 2^nd installment of the principal of the 4^th and 5^th issuance.		05.15.2022	2	05.15.2025	Half-yearly	CDI + 1.21%	CDI + 1.28%	300,000	305,380	-
	7^th (2^nd serie)				05.15.2022	2	05.15.2027	Half-yearly	CDI + 1.36%	CDI + 1.42%	901,450	917,789	-
	7^th (3^rd serie)		Investments for expansion, renovation or improvement and/or reimbursement of expenses of the issuer's electricity distribution network, linked to Aneel's Concession Agreement No. 46/1999.		05.15.2022	3	05.15.2032	Half-yearly	IPCA + 6.1732%	IPCA + 6.6587%	298,550	301,830	-
Brisa Potiguar	2^nd (1^st serie)	(d)	Implementation of wind generating plants.	Real and personal guarantee and pledge of Copel GeT shares.	03.24.2016	192	07.15.2032	Monthly	TJLP + 2.02%	TJLP + 2.02%	147,575	91,468	100,240
Brisa Potiguar	2^nd (2^nd serie)	(d)	Implementation of wind generating plants.	Real and personal guarantee and pledge of Copel GeT shares.	03.24.2016	192	07.15.2032	Monthly	IPCA + 9.87%	IPCA+ 10.92%	153,258	126,067	131,630
Cutia	1^st	(b)	Construction and implementation of wind generating plants.	Personal guarantee	03.20.2019	26	12.15.2031	Half-yearly	IPCA +5.8813%	IPCA+ 6.83%	360,000	360,894	370,903
											Gross debt	7,887,077	8,240,769
											(-) Transaction cost	(83,222)	(93,152)
											Net debt	7,803,855	8,147,617
											Current	1,346,347	2,144,485
											Noncurrent	6,457,508	6,003,132

(a)	Simple debentures, single series, not convertible into shares, unsecured, for public distribution with restricted placement efforts, according to CVM No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.

(b)	Simple debentures, single series, not convertible into shares, with security interest and additional personal guarantee, for public distribution with restricted efforts, pursuant to CVM Instruction No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.

(c)	Simple debentures, two series, not convertible into shares, unsecured, for public distribution with restricted placement efforts, according to CVM No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.

(d)	Simple debentures, two series, not convertible into shares, issued privately. Companies: Nova Asa Branca I, Nova Asa Branca II, Nova Asa Branca III, Nova Eurus and Ventos de Santo Uriel. Guarantor: Copel. They have no trustee.

(e)	Simple debentures, three series, not convertible into shares, unsecured, with additional personal guarantee, for public distribution with restricted placement efforts, pursuant to CVM Instruction No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.

21.1

Maturity of noncurrent installments


12.31.2022	Gross debt	(-) Transaction cost	Net debt
2024	670,831	(13,890)	656,941
2025	1,798,427	(11,436)	1,786,991
2026	1,789,732	(9,168)	1,780,564
2027	718,578	(7,584)	710,994
2028	62,857	(5,997)	56,860
After 2028	1,482,417	(17,259)	1,465,158
	6,522,842	(65,334)	6,457,508

21.2

Changes in debentures

Schedule of changes in debentures
Balance as of January 1, 2020	8,429,710
Funding	453,951
Charges and monetary variations	(1,046,295)
Amortization - principal	(422,295)
Payment - charges	(657,590)
Balance as of December 31, 2020	6,757,481
Funding	3,000,000
(-) Transaction costs	(35,030)
Charges and monetary variations	658,653
Amortization - principal	(1,852,048)
Payment - charges	(361,073)
Reclassification (a)	(20,366)
Balance as of December 31, 2021	8,147,617
Funding	1,500,000
(-) Transaction costs	(14,445)
Charges and monetary variations	1,112,287
Amortization - principal	(2,051,481)
Payment - charges	(890,123)
Balance as of December 31, 2022	7,803,855

(a)	Reclassification to Assets classified as held for sale (Note 39).

21.3

Covenants

The issued debentures contain clauses that require the maintenance of certain economic and financial ratios within pre-determined parameters, requiring annual fulfillment and other conditions to be complied with, such as not changing the Company's interest in the capital stock that would represent change of control without prior consent from the debenture holders; not paying out dividends or interest on capital if it is in arrears in relation to honoring any of its financial obligations or not maintaining the financial ratios as determined without prior written consent of the debenture holders. The non-compliance with the contracted conditions may imply the need to request consent from the debenture holders or the declaration of early maturity of the debts.

As of December 31, 2022, all ratios and covenants have been fully met, except for the subsidiaries Ventos de Santo Uriel and Nova Asa Branca III, which have a debt of R$72,588 on December 31, 2022, and that did not meet the ICSD of 1.3. However, the Company preventively requested and received, on December 30, 2022, according to letter from BNDES AE/DEENE2 No. 061/2022, the commitment of the development banking institution not to declare the early maturity of the debenture deeds, based on the performance of this index in fiscal year 2022.

Additionally, the subsidiary Cutia Empreendimentos Eólicos S.A. calculated ICSD of 1.15 and, therefore, needed to supplement the Reserve Account with at least R$5,736. The deposit was made on March 13, 2023, before the contractually defined deadline.

The Company expects that all financial indicators, measured annually, will be met in 2023.

The financial covenants contained in the debenture agreements are presented as follows:

Schedule of financial covenants
Company	Contractual Instrument	Annual financial ratio	Limit
Copel GeT	4^th issue of Debentures	Consolidated net debt / Consolidated ebitda Debt service coverage ratio	≤ 3.5 ≥ 1.5
	5^th issue of Debentures
	6^th issue of Debentures
	7^th issue of Debentures
Copel DIS	4th issue of Debentures
	5^th issue of Debentures
	6^th issue of Debentures
	7^th issue of Debentures
Nova Asa Branca I		Debt service coverage ratio	≥ 1.3
Nova Asa Branca II
Nova Asa Branca III	2^nd issue of Debentures
Nova Eurus IV
Ventos de Santo Uriel
Cutia	1^st issue of Debentures	Debt service coverage ratio (a)	≥ 1.2

(a)

financial ratio calculated based on the amounts of the consolidated financial statements of Cutia Empreendimentos Eólicos S.A. The contract establishes that, should the index be in the range between 1.10 and 1.20, the value of the funds invested in the Reserve Account must be complemented so that the total reaches the index of 1.20, within 2 days of the release of the financial statements.