AXIA Energia Director Discloses $27.6M Multi-Fund Share Sale

Executive Summary

On October 7, 2026, AXIA Energia S.A. director Pedro Batista de Lima Filho filed a Form 4 reporting extensive open-market sales executed on October 5, 2026. Through various investment funds managed by Radar Gestora de Recursos Ltda., where Mr. Filho serves as a partner, a total of 2,237,300 Common Shares and 96,600 Class "C" Preferred Shares were sold for aggregate gross proceeds of approximately $27.57 million.

Transaction Details

• Non-Derivative Sales (Common Shares):
  • Volume: 2,237,300 shares across six managed accounts (Maliko: 1,251,100; Manuka: 281,500; Tucurui: 8,400; Xingo: 11,200; Radar: 432,000; Infrad: 253,100).
  • Execution Price: $11.81 per share (converted from BRL 61.46 per share at 5.2050 BRL/USD).
  • Total Common Proceeds: $26,422,513.00.
• Derivative Sales (Class "C" Preferred Shares):
  • Volume: 96,600 preferred shares convertible into common shares on a 1:1 basis.
  • Execution Price: $11.87 per share (converted from BRL 61.78 per share).
  • Total Preferred Proceeds: $1,146,642.00.
• Combined Realized Value: ~$27,569,155.00.

Holdings & Beneficial Ownership Context

• The transactions were conducted indirectly through investment funds managed by Radar Gestora de Recursos Ltda. Mr. Filho disclaims beneficial ownership of the securities except to the extent of his pecuniary interest through performance compensation.
• Following the sales, the managed entities continue to retain substantial equity positions (over 30.9 million Common Shares and over 6.5 million Class "C" Preferred Shares across the managed accounts), while Mr. Filho directly retains 51,115 Common Shares.

Trading Significance

This transaction carries High significance due to the multi-million dollar volume ($27.6M aggregate) transacted across multiple institutional accounts affiliated with a company director, representing meaningful institutional portfolio rebalancing.