AXIA Energia S.A. Legal VP Converts Class C Preferred Shares into Common Stock

AXIA Energia S.A. ($AXIA3) Form 4 Transaction Analysis

Summary of Transaction

On October 2, 2026, Marcelo de Siqueira Freitas, Legal Vice-President of AXIA Energia S.A., converted 539 Class "C" Preferred Shares (PNC Shares) into 539 Common Shares at an exercise/conversion price of $0.00.

Following this transaction, the reporting person holds:

• Common Shares / RSUs: 36,635 shares directly owned.
• Class "C" Preferred Shares: 2,950 shares directly owned.

Context and Governance Details

According to Footnote 1 and Footnote 3 of the filing, the transaction was conducted pursuant to Article 11 of the Company's Bylaws in connection with a mandatory redemption of 15.46% of AXIA Energia S.A.'s outstanding PNC Shares announced on September 22, 2026. The PNC Shares convert into Common Shares at a 1:1 ratio.

Market & Trading Significance

• Significance Level: Low
• Rationale: This transaction represents an automatic, non-discretionary conversion of preferred equity into common stock under company bylaws and mandatory redemption provisions, rather than an open-market purchase or sale.