ENERGISA SA — Earnings Release 2026

May 26, 2026

EARNINGS RELEASE

1Q26

ENERGISA GROUP

GRUPO

energisa

GRUPO ENERGISA S/A

RESULTS FOR 1ST QUARTER OF 2026

Cataguases, May 11, 2026 – The Management of Energisa S/A (“Energisa” or “Company”) hereby presents its results for the first quarter of 2026 (1Q26). Amounts are stated in thousands of Brazilian Reais (R$ '000) and the following financial information has been prepared and is being presented in accordance with accounting practices adopted in Brazil and International Financial Reporting Standards (“IFRS” issued by the International Accounting Standards Board (“IASB”), comprising the standards issued by the Brazilian Securities Commission (“CVM”) and the pronouncements, instructions and interpretations issued by the Accounting Pronouncement Committee (“CPC”) and when applicable the regulations of the regulatory agency, the National Electricity Regulatory Agency – ANEEL, unless stated otherwise.

ENERGISA GROUP

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EARNINGS RELEASE

1Q26

GROUP

energisa

Key events in 1Q26

Recurring Adjusted EBITDA

R$ 1,981 million

+6.6%

PMSO

R$ 893 million

+1.6%

Gross Margin by Combination

(100% of the CDL's gross margin)

R$ 230 million

+19%

Composite BITDA

(100% of the CDL's EBITDA)

R$ 174 million

+47%

Equity Method Income

R$ 39 million

+29%

ES gás

+

NOR gás

Recurring Combined Adjusted EBITDA

R$ 1,712 million

+7.3%

Energy Sales

captive market+ TUSD+ compensated energy from DG II/III

11,037GWh

+3.5%

PMSO R$ 797 million +1.5%

Distributed Generation

PMSO

EBITDA

R$ 29 million

R$ 47 million

-3.7%

+8.4%

Installed Capacity

Solar Plants

473

126

MWp

9 States

Regulatory EBITDA

R$ 170 million

+6.7%

Regulatory EBITDA Margin

87%

+1.9 p.p

Total Revenue

PMSO

R$ 12 million

R$ 7 million

+64.1%

-18.3%

Net Income

R$ 8 million

-10%

ANEEL Consumer Satisfaction Award

ANEEL Consumer Satisfaction Index (IASC)

North Region - Energisa Tocantins

Midwest Region (+500 thousand consumer units) - Energisa Mato Grosso do Sul

Brazil (+500 thousand consumer units) - Main Category - Energisa Paraíba

[B]

ENCI

BATTERIES

ICO2B3

IBOVESPA B3

ITAG B3

IGCT B3

IVBXB3

IBRA B3

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1Q26

GROUP energisa

Description	Quarter
	1Q26	1Q28	Change %	Change R$
Financial Indicators - R$ million
Revenues	12,525	11,442	+ 9.5	+ 1,084
Adjusted net revenue (1)	7,355	6,832	+ 7.6	+ 522
PMSO	893	879	+ 1.6	+ 14
Recurrent Adjusted EBITDA (2)	1,981	1,858	+ 6.6	+ 123
Covenants Adjusted EBITDA (3)	2,534	2,557	- 0.9	- 22.2
EBITDA Margin (%)	28	30	- 2.2 p.p.	-
Finance income/loss	(1,030)	(614)	+ 67.8	(416)
Consolidated recurrent adjusted net income (4)	207	390	- 46.9	- 183
Net income of parent company	466	776	- 40.0	- 310
Investments	1,553.1	1,327.7	+ 17.0	+ 226
Net indebtedness (5)	33,258	26,219	+ 26.8	+ 7,039
Net debt/Adjusted EBITDA covenants 12 months	3,5	3,0	+14,5	+ 0,4

1) Includes consolidated net revenue less VNR and construction revenue of DisCos, corporate transmission revenue plus regulatory transmission revenue; 2) Recurrent adjusted EBITDA discounted from the distribution VNR, corporate transmission EBITDA and nonrecurrent and noncash effects and addition of the transmission regulatory EBITDA; 3) Covenant-Adjusted EBITDA with the addition of private pension entity items, asset write-offs and arrears surcharge revenue; 4) Net income discounted from the distribution VNR, corporate transmission net income and nonrecurrent and noncash effects and addition of the transmission regulatory net income. 5) Includes sector credits (CDE, CCC, CVA).

The information in this release and its details are available in Excel format in Energisa Group's Historical Information Database

Click here to view

Please send any queries to ri@energisa.com.br

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EARNINGS RELEASE
1Q26
ENERGISA GROUP
GROUP energisa

> In 1Q26, Energisa Group's P&L is affected by the following non-recurring and/or non-cash effects:

Items impacting EBITDA in the quarter:

• Mark-to-market ECOM: R$ 34 million positive non-cash effect related to the mark-to-market of Energisa Comercializadora's portfolio, impacting the quarter;

Items impacting Profit in the quarter:

• Mark-to-market EPNE Call: R$ 41 million positive effect, due to the mark-to-market of the call option over the subsidiary EPNE's shares;

ENERGISA GROUP
4

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1Q26

GROUP energisa

1. CORPORATE STRUCTURE AND PROFILE

Energisa Group completed 121 years on February 26, 2026, and has more than 18,000 direct employees who serve over 9.4 million electricity and natural gas customers. We offer the market a complete ecosystem of innovative energy solutions to meet the needs of all customer profiles around Brazil.

Energisa Group operates in the following segments: electricity distribution, electricity transmission, centralized and distributed generation, natural gas distribution, biosolutions and added-value electric services.

More details about Energisa Group can be found in the Reference Form, click the link.

7

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1Q26

GRUPO energisa

1.1. Corporate Structure of Energisa Group

Energisa Group's share control is exercised by Gipar S.A., controlled by the Botelho Family. The Company is listed in Level 2 Corporate Governance of B3 and its most liquid shares are traded under the symbol ENGI11 (Units-certificates comprising one common share and four preferred shares). In addition to these securities, it has shares traded under the symbols ENGI3 (common shares) and ENGI4 (preferred shares).

See below the simplified ownership structure of Energisa Group:

CV - Voting Capital | CT - Total Capital

The interests shown in the table are direct (3) or indirect (12) interests of Energisa S.A.

Squadra Investimentos, FIA Samambaia and Goldman Sachs - shareholding held directly and indirectly through investment vehicles.

Other non-controlling interests - share position including treasury stock.

Energisa Participações Nordeste S.A. has a direct interest of 100% in EPB.

The holding company Gemini Energy S/A holds the share control of the transmission utilities:

• 100% of Linhas de Itacaiúnas de Transmissora de Energia Ltda;
• 100% of Linhas de Taubaté Transmissora de Energia S.A.;
• 85.0% of Linhas de Macapá Transmissora de Energia S.A. and
• 83.3% of Linhas de Xingu Transmissora de Energia S.A.

The company Norgás holds a minority investment in the following gas distribution companies:

• 29.4% in Cegás;
• 29.4% in Algás;
• 41.5% in Copergás; and
• 83.0% in Potigas.

Data as of 04/30/2026

1.1.1 Corporate reorganization

On April 01, 2026, Energisa Group approved the merger of Energisa Participações Minoritárias S.A. ("EPM") into Denerge – Desenvolvimento Energético S.A. ("Denerge"), as part of the group's corporate reorganization. The transaction aims to streamline our corporate structure and increase operational and governance efficiency.

EPM was dissolved under the merger, and Denerge succeeded it in full with respect to its rights and obligations. Energisa became a shareholder of Denerge, consolidating the assets previously held by EPM.

For further information please see our Press Release – click the link

1.1.2 Capital market

Traded on B3, Energisa's most liquid stock, ENGI11 – Unit, composed of 1 common share and 4 preferred shares, closed March 2026 at R$ 57.71 per Unit, a 58.7% representing a 58.7% increase in the Company's market value compared to the same period last year and above with Ibovespa gains (+43.9%). ENGI11's average daily trading volume was R$ 133 million.

See below the market indicators of Energisa's shares at the end of the quarter:

	1Q26 (3)	1Q25	Change
Market indexes
Enterprise value (EV - R$ million) (1)	62,326	44,585	+ 39.8%
Market value at the end of period (R$ million)	29,065	18,315	+ 58.7%
Average daily volume traded - Units (R$ million)	133	132	+ 0.3%
ENGI11 (Unit) closing price at the end of period (R$/Unit)	57.71	40.00	+ 44.3%
ENGI3 (ON) closing price at the end of period (R$/share)	13.59	11.73	+ 15.8%
ENGI4 (PN) closing price at the end of period (R$/share)	9.55	7.10	+ 34.5%
Dividends paid per Unit - TTM	3.60	2.90	+ 24.4%
Net Income per Unit - TTM	7.70	13.00	- 40.8%
Total return to Units shareholder (TSR) - TTM % (3)	53.3%	-4.1%	+ 57.3 p.p.
Market value / equity (times)	1.48	0.83	+ 78.0%

(1) EV = Market value (R$/share x number of shares) + consolidated net debt.
(2) The net income used to compile the indicator Net Income over Unit is the Corporate net income.
(3) TSR is calculated based on prices adjusted for distributions.
(4) Proforma: considering the effect of the bonus shares at a ratio of 1:10 Units, an adjustment was made in 1Q26 for comparability purposes. For further information please see our Press Release and Shareholder Notice – click the link

EARNINGS RELEASE
1Q26
ENERGISA GROUP
GROUP energisa

2. ENERGISA CONSOLIDATED

2.1 Net operating revenue

See below the net operating revenue by business line before intercompany eliminations and business combination:

| Net revenue by business line
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Electricity distribution | 7,998 | 7,494 | + 6.7 | + 503.8 |
| Electricity transmission | 312 | 369 | - 15.4 | - 56.7 |
| (re) energisa | 605 | 454 | + 33.3 | + 151.3 |
| • Distributed generation | 93 | 88 | + 6.2 | + 5.4 |
| • Electricity trading (1) | 461 | 320 | + 43.9 | + 140.5 |
| • Added value services | 51 | 46 | + 11.9 | + 5.5 |
| Natural gas distribution | 137 | 157 | - 12.9 | - 20.3 |
| Holding companies and other | 142 | 127 | + 12.5 | + 15.8 |
| (e) Total | 9,194 | 8,600 | + 6.9 | + 593.9 |
| Intercompany eliminations and business combination | (199) | (191) | + 4.4 | - 8.3 |
| (e) Consolidated net revenue | 8,995 | 8,410 | + 7.0 | + 585.6 |
| (-) Construction revenue (2) | (1,605) | (1,488) | + 7.9 | - 117.2 |
| (e) Consolidated net revenue, without infrastructure construction revenue | 7,390 | 6,922 | + 6.8 | + 468.4 |

(1) Includes Clarke's result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a comparative analysis, this adjustment was also applied to the 1Q25 results, without impacting Energisa's consolidated result, as it is merely a reclassification between P&L items.
(2) Construction revenue: infrastructure construction revenue + transmission infrastructure maintenance and operation revenue + revenue from construction performance obligation margins + remuneration of the contract asset (electricity transmission).

Consolidated operating revenue is detailed in Appendix A2. See this and other tables in Excel on this link.

Headlines:

> Adjusted net revenue, excluding VNR and construction revenue, grew +6.2% in the Electricity Distribution segment in 1Q26, reaching R$ 6.474 million, reflecting the increase in system availability revenue (TUSD) (+R$ 297 million), rate subsidy revenue (+R$ 299 million) and sector assets/liabilities (+R$ 277 million). See more details in section 3.
> In the Transmission segment, the corporate result decreased 15.4%, explained mainly by the reduction in construction revenue due to lower investment realization in the energized projects Energisa Amazonas and Energisa Amazonas II, as well as the reduction in asset remuneration revenue explained by the amortizations incurred between the period. See more details in section 4.
> The 33.4% increase in (re)energia's revenue in 1Q26 was driven in all segments, with +R$ 140 million by the Trading Company, +R$ 5 million in the value-added services segment and +R$ 5 million in the distributed generation segment (-R$ 1.9 million). See more details in section 5.
> In the Gas Distribution segment, the combined revenue of ES Gás and Norgás investees recorded net revenue of R$ 735 million, representing a 14.1% decrease. The comparison with the same period in 2025 reflects the reduction in total distributed volume caused by clients migrating to the free gas market, especially ES Gás. It is worth noting that migration to the free market is offset by a reduction in gas costs and does not affect the distributor's gross margin. The gross margin for the segment totaled R$ 230 million, a 19% increase. See more details in section 8.
> In the Holding and Others segment, the 12.8% increase (R$ 16.2 million) on the same period in 2025 was mainly due to higher service revenues from the Shared Services Center and IT (+R$ 4 million) and increased revenue from MultiEnergisa (+R$ 2 million), with these intercompany revenues eliminated in the consolidated results. Voltz added R$ 5 million in additional revenue and Biogás operations contributed a total of R$ 6 million.

2.2 Manageable operating costs and expenses

See below the breakdown of the Company's consolidated operating costs and expenses:

| Breakdown of operating costs and expenses
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| 1 Non Manageable costs and expenses | 4,197 | 3,671 | + 14.3 | + 525.8 |
| 1.1 Electricity and transportation cost (1) | 4,151 | 3,589 | + 15.7 | + 562.5 |
| 1.2 Cost of gas and transportation | 46 | 82 | - 44.6 | - 36.7 |
| 2 Manageable costs and expenses | 1,093 | 1,052 | + 3.9 | + 41.2 |
| 2.1 PMSO | 893 | 879 | + 1.6 | + 13.7 |
| 2.2 Provisions/Reversals | 200 | 173 | + 15.9 | + 27.5 |
| 2.2.1 Contingencies | 45 | 39 | + 14.2 | + 5.5 |
| 2.2.2 Expected credit losses | 156 | 134 | + 16.4 | + 21.9 |
| 3 Other revenue/expenses | 605 | 651 | - 7.1 | - 46.3 |
| 3.1 Amortization and depreciation | 569 | 516 | + 10.3 | + 53.2 |
| 3.2 Other revenue/expenses | 35 | 135 | - 73.7 | - 99.5 |
| Total (exc. infrastructure construction cost) | 5,895 | 5,374 | + 9.7 | + 520.7 |
| Infrastructure construction cost | 1,321 | 1,154 | + 14.4 | + 166.3 |
| Total (including infrastructure construction cost) | 7,216 | 6,528 | + 10.5 | + 687.1 |

(1) It includes the energy purchase amounts from the distribution companies, the trading company and the elimination effect.

See below the PMSO, which makes up manageable costs, detailed by business line:

| PMSO by business line
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Electricity distribution (1) | 797 | 785 | + 1.5 | + 11.5 |
| Electricity transmission | 29 | 31 | - 6.9 | - 2.1 |
| (re)energisa | 83 | 82 | + 1.0 | + 0.8 |
| • Distributed generation | 29 | 30 | - 3.6 | - 1.1 |
| • Electricity trading (2) | 9 | 10 | - 8.9 | - 0.9 |
| • Added value services | 45 | 42 | + 6.7 | + 2.8 |
| Natural gas distribution | 17 | 18 | - 7.5 | - 1.4 |
| Holding companies and other | 127 | 121 | + 4.9 | + 6.0 |
| () Total | 1,053 | 1,038 | 1.4 | 14.8 |
| Intercompany eliminations | (160) | (158) | + 0.7 | - 1.1 |
| () Energisa consolidated | 893 | 879 | + 1.6 | + 13.7 |

(1) See this and other tables in Excel available on this link
(2) Includes Clarke's result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a comparative analysis, this adjustment was also applied to the 1Q25 results, without impacting Energisa's consolidated result, as it is merely a reclassification between P&L items.

For the quarter, consolidated PMSO totaled R$ 893 million, up 1.6% compared to 1Q25, and below inflation for the period (IPCA: 4.14%), driven by the gas distribution (-7.5%), transmission (-6.9%), electricity distribution (+1.5) and (re)energisa (+1.0%), and segments. Consolidated PMSO has been performing below inflation for the last 5 consecutive quarters.

Regulatory Transmission PMSO Amounts in R$ million	Quarter
	1Q26	1Q25	Change %	Change R$
> Electricity transmission - Regulatory	(29)	(28)	+ 3.8	+ 1.0

Consolidated PMSO (Personnel, Materials, Services and Other)

Consolidated PMSO	Quarter
	1Q26	1Q25	Change %	Change R$
Personnel and retirement benefits	531	508	+ 4.4	+ 22.3
Material	80	83	- 3.0	- 2.5
Outsourced services(1)	235	235	- 0.1	- 0.2
Other	48	54	- 11.2	- 6.0
• Contractual and regulatory penalties	0	0	- 2.2	- 0.0
• Other	47	53	- 11.3	- 6.0
Total consolidated PMSO	893	879	+ 1.6	+ 13.7

The main changes in PMSO expenses are detailed below:

✓ Personnel and Retirement Benefits

Personnel expenses totaled R$ 531 million, up 4.4% (-R$ 22 million), driven mainly by the gas distribution segment (+36.8%), electricity distribution (+3.5%), transmission (2.9%), and (re)Energisa (3.4%), due to collective bargaining agreements and adjustments from 2025, higher severance costs and overtime expenses (+R$ 26 million).

✓ Outsourced services

Outsourced services expenses totaled R$ 235 million in 1Q26, practically in line with 1Q25.

✓ Other

In 1Q26, the item Other decreased by 11.2% (-R$ 6.1 million) compared to 1Q25, totaling R$ 48 million, notably due to a reduction in Fuel Consumption Account (CCC) reimbursement revenue, which was R$ 14.8 million lower than the prior period due to a methodological adjustment per ANEEL Normative Resolution No. 1,141 of December 2025, in the O&M reference price for photovoltaic sources, to align it with current technology costs compared to previously indexed values. In contrast, sponsorship and donation expenses decreased by R$ 12 million due to the group's 120th anniversary celebrations having taken place in 2025.

Other operating expenses

Other consolidated expenses Amounts in R$ million	Quarter
	1Q26	1Q25	Change %	Change R$
Provisions/Reversals	200	173	+ 15.9	+ 27.5
Legal claims	45	39	+ 14.2	+ 5.5
Expected credit losses for doubtful accounts	156	134	+ 16.4	+ 21.9
Other revenue/expenses	605	548	+ 10.4	+ 56.7
Amortization and depreciation	569	516	+ 10.3	+ 53.2
Other revenue/expenses	35	135	- 73.7	- 99.5
Total combined	805	721	+ 11.7	+ 84.2

Provisions/Reversals

Legal claims

EARNINGS RELEASE
1Q26
ENERGISA GROUP
EUROPE ENERGISA

In 1Q26, the provisions/reversals item recorded an impact of R$ 45 million, compared to R$ 39 million in 1Q25, representing a marginal increase of R$ 5 million, driven mainly by risk adjustments related to ongoing legal proceedings. In the same period, there was a reduction in provisions at the following companies: ESE (R$ 600); ESS (R$ 2 million); EPB (R$ 2 million) and ERO (R$ 2 million), driven by the combination of lower volume and lower provisions for new incoming cases. These movements reinforce the trend of structural improvement in the group's legal liability management.

Expected credit losses for doubtful accounts ("PECLD")

The PPECLD was R$ 156 million in 1Q26, representing an increase of 16.4% (-R$ 22 million) compared with 1Q25, due to higher PECLD of DisCos (+16.6%) in the quarter. For further information see item 3.1.3.2 of this report.

Other revenue/expenses

In 1Q26, other net expenses totaled R$ 35 million, a reduction of R$ 100 million compared to the prior period, a performance that primarily reflects mark-to-market revenue from Energisa Comercializadora (non-cash effect), resulting from a strategic shift focused on structured operations with better risk-return profiles, end-customer service, and higher operational value generation.

2.3 EBITDA

Recurring adjusted EBITDA reached R$ 1,981 million, a result 6.6% higher than 1Q26 due to a 7.0% increase in net revenue, mainly in (re)energisa, regulatory transmission, gas distribution, and holding and other.

Book EBITDA amounted to R$ 2,349 million in 1Q26, a decrease of 2.0% on the same quarter last year.

Recurring adjusted EBITDA reached R$ 1,981 million, a result 6.6% higher than 1Q26 due to a 7.0% increase in net revenue, mainly in (re)energisa, regulatory transmission, gas distribution, and holding and other.

| EBITDA by business line
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| @ Electricity distribution | 1,971 | 2,073 | - 4.9 | - 101.8 |
| @ Electricity transmission | 246 | 296 | - 16.8 | - 49.7 |
| @ (re) energisa | 64 | (11) | - | + 74.9 |
| · Distributed generation | 47 | 43 | + 8.4 | + 3.6 |
| · Electricity trading (1) | 11 | (58) | - | + 68.1 |
| · Added value services | 6 | 3 | + 105.1 | + 3.2 |
| @ Natural gas distribution | 58 | 39 | + 48.7 | + 19.0 |
| @ Holding company and other | 12 | 2 | + 579.1 | + 10.5 |
| Intercompany eliminations and business combination | (2) | (1) | + 104.6 | - 1.1 |
| (+) EBITDA | 2,349 | 2,397 | - 2.0 | - 48.2 |
| (+) Adjustments for calculation of covenants | 186 | 160 | + 16,3 | + 26,0 |
| (+) Covenants adjusted EBITDA (2) | 2.534 | 2.557 | - 0.9 | - 22.2 |

(1) Includes Clarke's result in the Trading Company from 2Q25, previously recorded under 'Holding/Others'. To facilitate a comparative analysis, this adjustment was also applied to the 1Q25 results, without impacting Energisa's consolidated result, as it is merely a reclassification between P&L items.
(2) EBITDA plus with the addition of private pension entity line items, asset write-offs and late payment surcharge income.

Recurring adjusted EBITDA, when adjusted for the R$ 39 million equity income from Norgás, reached R$ 2,020 million, a 6.9% increase compared to 1Q25 (R$ 1,889 million), reflecting the improved performance of investees. This movement also translates into an expansion of the gross margin across the combined concessions, which grew by 19%, sustained by operational gains and greater management efficiency.

ENERGISA GROUP
12

| Description
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change % |
| (=) EBITDA | 2,349 | 2,397 | - 2.0 | - 48.2 |
| (-) Concession financial asset (VNR - Distribution) | (259) | (301) | - 13.9 | + 41.7 |
| (-) Corporate EBITDA TransCos | (246) | (296) | - 16.8 | + 49.7 |
| (+) Regulatory EBITDA TransCos | 170 | 160 | + 6.7 | + 10.7 |
| (=) Adjusted EBITDA | 2,014 | 1,960 | + 2.7 | + 53.8 |
| (+/-) Nonrecurrent and extraordinary effects | (34) | (103) | - 67.1 | + 68.8 |
| Provision for ERO's RTE (1) | - | (177) | - | + 176.9 |
| Mark-to-market ECOM | (34) | 74 | - | - 108.1 |
| (=) Recurrent adjusted EBITDA | 1,981 | 1,858 | + 6.6 | + 122.6 |

2.4 Finance income/loss

R$ million	Quarter
	1Q26	1Q25	Change %	Change R$
Finance revenue	561	558	+ 0.5	+ 2.8
Revenue on short-term investments	341	253	+ 34.9	+ 88.2
Other finance revenue	220	305	- 28.0	- 85.4
Finance costs	(1,591)	(1,172)	+ 35.8	- 419.0
Debt charges - Interest	(1,051)	(805)	+ 30.6	- 246.5
Debt charges - Monetary and exchange variance	(55)	256	-	- 311.0
Derivative financial instruments (Swap)	(445)	(687)	- 35.2	+ 241.6
Mark-to-market of derivatives	(1,246)	457	-	- 1.702.9
✓ Swap MtM	(1,299)	303	-	- 1.601.9
✓ MTM Stock option plan (EPNE)	53	38	+ 39.8	+ 15.1
✓ MTM Stock option plan (EPM)	-	116	-	- 115.9
Mark-to-market of debt securities	1,283	(271)	-	+ 1.553.3
Other finance costs	(76)	(123)	- 38.0	+ 46.5
Finance income/loss	(1,030)	(614)	+ 67.8	- 416.2

In 1Q26, the Company recorded net finance costs of R$ 1,030 million, an increase of 67.8% compared with the same period of the previous year, reflecting the increase in net debt, which grew 33.1% compared to December 2025, while the average cost of debt in March 2026 reached 14.0% p.a., representing an increase of 46 bps compared with March 2025 (13.5% p.a.).

2.5 Net income for the period

In the quarter the consolidated net income before non-controlling interests was R$ 575 million, R$ 452 million or -44.0% less than the same period last year. The Parent Company's net income in the quarter was R$ 466 million, 40.0% less than in 1Q26. This performance primarily reflects the increase in net finance costs, which rose from R$ 614 million to R$ 1,030 million (+67.8%), explained by a 33.1% increase in the net debt balance (vs. Dec/25) and an increase in the average cost of debt.

NCI was R$ 109.0 million in 1Q26, down 56.6% compared to the same period in 2025, due to Energisa's acquisition of an NCI previously held by third parties in EPM, which occurred in December 2025.

Equity income from the gas business, reflecting the performance of Norgás' distributors, totaled R$ 39 million in 1Q26, a 29% increase over 1Q25. This was driven by volumes at Copergás, Potigás' new regulatory margin, and cost efficiencies and provision reversals at Cegás. These advances consolidate the investees' positive trajectory within the Energisa Group's results

Net income for the period by business lineAmounts in R$ million	Quarter
	1Q26	1Q25	Change %	Change R$
Electricity distribution	652	981	-33.6	-329.5
Electricity transmission	101	157	-35.8	-56.3
(re) energisa	(17)	(51)	-65.9	+33.7
Distributed generation	(25)	(13)	+96.9	-12.2
Electricity trading (1)	4	(39)	-	+43.2
Added value services	3	0	+805.2	+2.8
Natural gas distribution	13	(0)	-	+12.7
Holding companies and other	(114)	39	-	-153.9
Business combination	(58)	(100)	-41.4	+41.3
(e) Consolidated net income for the period	575	1,027	-44.0	-451.9
Net income margin (%)	6	12	-5.8 p.p.	-
Net income of Parent Company	466	776	-40.0	-310.1

See below the breakdown of the Company's nonrecurrent and noncash effects in the quarter, net of tax:

Amounts in R$ millionNet income	Quarter
	1Q26	1Q25	Change %	Change R$
(e) Consolidated net income for the period	575	1,027	-44.0	-451.9
(-) Concession financial asset (VNR - Distribution)	(207)	(238)	-12.9	+30.7
(-) Net corporate income/loss - TransCos	(101)	(157)	-35.8	+56.3
(+) Net regulatory income/loss - TransCos	3	12	-71.7	-8.4
(e) Adjusted net income for the period	270	644	-58.0	-373.4
Nonrecurring effects	(63)	(253)	-75.2	+190.3
Mark-to-market EPNE Call	(41)	(117)	-65.3	+76.6
Mark-to-market ECOM	(22)	49	-	-71.3
Provision for ERO's RTE	-	(185)	-	+185.0
(e) Adjusted recurrent net income for the period	207	390	-46.9	-183.0
Net income margin (%)	2	5	-2.3 p.p.	-2.3

2.6 Capital structure

2.6.1 Financing operations

Energisa Group secured financing of R$ 3,121 million in 1Q26, at an average cost of 97.8% of the CDI rate.

Over recent years the parent company Energisa S.A. has issued infrastructure debentures under Law 12.431, to finance the investments of its DisCos. The funds were passed through to the subsidiaries by way of mirror debentures, with a private distribution, details of which can be seen in appendix A.4.

See below funding by company and issuance type for YTD 2026:

Company	Issue type	Total amount (R$ millions)	Average Cost (% CDI p.a.)	Maturities (years)
AGRIC, ECOM and LUREAN	Law 4.131	147.00	103.44%	1 and 2
EAC, EMT, EPB, ESE and ETO	Incentivized Debentures	2,830.00	97.51%	10, 15 and 20
EMS	FINEM	144.00	97.95%	Up to 16
Total		3,121.00	97.81%	-

2.6.2 Non-controlling interests call options

The company holds call options over non-controlling interests with a restated value equivalent to R$ 858.5 million in Energisa Participações Nordeste (EPNE).

On April 20, 2026, Energisa and its subsidiaries (Rede Energia, EMS, ESS and EMT) entered into a non-binding Memorandum of Understanding with Itaú Unibanco for the acquisition of all preferred shares of Denerge for an estimated R$ 1.4 billion. The bank will have a direct NCI in Denerge and an indirect stake in its subsidiaries (Rede Energia, EMS, ESS and EMT). The transaction is subject to precedent conditions, including CADE approval, and the next steps will involve negotiating investment agreements and a shareholders' agreement. The transaction aims to strengthen financial capacity and bolster Energisa's capital structure. For further details, see the Press release available on the Investor Relations website.

For further details see notes 15 and 32 and the Interactive Spreadsheets - Energisa.

2.6.3 Cash and debt

The net debt as of March 31, 2026 adjusted for sector credits amounted to R$ 33,258 million, compared with R$ 32,829 million as of December 31, 2025.

The table below shows the Net Debt/EBITDA ratio, used in loan, financing and debenture contracts in effect, which also includes in the calculation the Private Pension Entity and Asset Write-off items in EBITDA for the last 12 months.

The ratio between Net Debt/EBITDA was 3.5x in March 2026, compared to 3.4x in December 2025. Considering the R$ 1.4 billion quasi-equity transaction disclosed on April 20, the pro forma Net Debt/EBITDA ratio would be 3.3x. The transaction, involving Nova Denerge and Denerge, remains subject to customary conditions precedent, including CADE approval.

GROUP

energisa

Consolidated Leverage
- Net Debt (R$ million) and Net Debt / Adjusted EBITDA 12 months (times)

The Company and its subsidiaries have debt covenants of 4.25x. The balance of operations with 4.0x covenants is R$ 258 million for debt maturing through June/26 and R$ 145 million for debt maturing through 2029.

See below the short- and long-term debt net of financial resources (cash, cash equivalents, short-term investments and sector credits):

| Description
Amounts in R$ million | Parent company | | | Consolidated | | |
| --- | --- | --- | --- | --- | --- | --- |
| | 03/31/2024 | 12/31/2025 | 09/30/2025 | 03/31/2024 | 12/31/2025 | 09/30/2025 |
| Current | 1,730 | 1,660 | 1,474 | 6,608 | 7,001 | 7,167 |
| Loans and borrowings | 435 | 248 | 325 | 3,223 | 3,744 | 3,728 |
| Debentures | 1,064 | 1,217 | 952 | 2,401 | 2,450 | 2,470 |
| Debt charges | 194 | 176 | 169 | 406 | 334 | 317 |
| Tax financing and post-employment benefits | 2 | 2 | 2 | 20 | 20 | 28 |
| Derivative financial instruments, net: | 35 | 17 | 28 | 559 | 454 | 624 |
| ✓ (-) Assets: derivative financial instruments | 0 | 0 | 0 | (111) | (117) | (24) |
| ✓ (+) Liabilities: derivative financial instruments | 35 | 17 | 28 | 669 | 571 | 648 |
| Noncurrent | 11,338 | 11,482 | 10,210 | 41,328 | 38,395 | 33,786 |
| Loans, financing and leasing | - | 200 | 200 | 12,079 | 12,291 | 10,635 |
| Debentures | 10,827 | 11,067 | 11,010 | 27,885 | 26,078 | 24,215 |
| Tax financing and post-employment benefits | 13 | 12 | 12 | 163 | 157 | 226 |
| Derivative financial instruments, net: | 499 | 203 | (1,011) | 1,200 | (131) | (1,289) |
| ✓ (-) Assets: derivative financial instruments | (242) | (188) | (1,404) | (611) | (791) | (1,999) |
| ✓ (+) Liabilities: derivative financial instruments | 741 | 391 | 393 | 1,810 | 660 | 709 |
| Total debts | 13,068 | 13,142 | 11,685 | 47,936 | 45,397 | 40,953 |
| (-) Cash and cash equivalents: | 9,522 | 9,297 | 9,067 | 12,320 | 10,948 | 10,002 |
| ✓ Cash and cash equivalents | 78 | 77 | 78 | 1,140 | 928 | 992 |
| ✓ Money market and secured funds | 9,445 | 9,219 | 8,990 | 11,179 | 10,020 | 9,010 |
| Total net debts | 3,546 | 3,845 | 2,617 | 35,616 | 34,449 | 30,951 |
| (-) CDE Credits | - | - | - | 1,090 | 1,107 | 1,036 |
| (-) CCC Credits | - | - | - | 98 | 97 | 155 |
| (-) CVA Credits (1) | - | - | - | 1,171 | 416 | 561 |
| Total net debts less sector credits | 3,546 | 3,845 | 2,617 | 33,258 | 32,829 | 29,200 |
| Relative Indicator | | | | | | |
| Adjusted EBITDA covenants 12 months | | | | 9,529.7 | 9,551.8 | 9,267.5 |
| Net debt / Adjusted EBITDA covenants 12 months (2) | | | | 3.5 | 3.4 | 3.2 |

(1) These credits consist of sector financial assets and liabilities. (2) Adjusted EBITDA covenants + EBITDA + Private pensions + Asset write-offs + Interest on energy bills.

Further information and details about the companies' indebtedness can be seen in the Notes to the financial statements available on our Results Center.

2.6.4 Debt cost, average term and repayment schedule

At the end of March 2026, the average debt maturity was 7 years (versus 6.6 years in 4Q25) and the average debt cost was 97.12% of the CDI (14.37%) versus 97.22% of CDI (14.49%) in 4Q25.

Breakdown by Source and Index (R$ million)

(1) This amount takes into account: (i) CDI-indexed debts of R$ 15.5 billion; (ii) Dollar- and Euro-denominated debts converted to CDI, without a protection cap, totaling R$ 5.0 billion from the USD-to-CDI swap; (iii) IPCA-indexed debts converted to CDI, totaling R$ 15.2 billion.
Note: The foreign currency debt is subject to swaps for the CDI rate and other currency hedge instruments.

Amortization schedule of bank debt and issuance (BRL million)

2.7 Ratings

See below Energisa S/A's current ratings issued by the agencies Standard & Poor's and Fitch Ratings:

Branch	Domestic Rating/Outlook	Global Rating/Outlook	Latest report
Standard & Poor's	brAAA (stable)	BB- (stable)	Sep/25
Fitch Ratings	AA+ (bra) (stable)	BB+ (stable)	May/26

2.8 Investments

Energisa and its subsidiaries invested R$ 1,553 million, an increase of 17.0% on the same quarter last year, influenced by the distribution segment, which showed an increase of 25.6% (+R$ 227 million).

The investments made by business line are described below, and the breakdown of investments by company is available in our past data base.

| Investments
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Chang + % | Change |
| Electricity distribution | 1,454.4 | 1,158.8 | + 25.6 | + 295.5 |
| Electricity transmission | 37.0 | 40.4 | - 8.5 | - 3.4 |
| (re) energisa | 36.2 | 43.1 | - 16.0 | - 6.9 |
| Distributed Generation | 34.9 | 42.3 | - 17.5 | - 7.4 |
| Electricity marketing | 0.2 | 0.1 | + 294.8 | + 0.2 |
| Services | 1.0 | 0.7 | + 42.5 | + 0.3 |
| Natural gas distribution | 17.0 | 17.3 | - 1.8 | - 0.3 |
| Biogás | 4.8 | 65.7 | - 92.7 | - 60.9 |
| Holding companies and other | 3.8 | 2.3 | + 65.4 | + 1.5 |
| (×) Total | 1,553.1 | 1,327.7 | + 17.0 | + 225.5 |

3. ELECTRICITY DISTRIBUTION

3.1 Operating revenue

See below the net operating revenue by consumption sector of the DisCos:

| Net revenue by consumption sector
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| (+) Electricity revenue (captive market) | 6,770 | 6,628 | + 2.1 | + 142.3 |
| (+) Electricity sales to distributors | 148 | 280 | - 47.2 | - 132.2 |
| (+) Net unbilled sales | (89) | (79) | + 12.7 | - 10.0 |
| (+) Electricity network usage charges | 1,195 | 896 | + 33.3 | + 298.6 |
| (+) Infrastructure construction revenue | 1,265 | 1,095 | + 15.5 | + 170.0 |
| (+) Creation and amortization of financial sector assets and liabilities | 847 | 557 | + 52.2 | + 290.6 |
| (+) Subsidies for services awarded under concession | 953 | 676 | + 41.1 | + 277.4 |
| (+) Concession financial assets (VNR) | 259 | 301 | - 13.9 | - 41.7 |
| (+) Other revenue | 41 | 43 | - 4.6 | - 2.0 |
| (-) Gross revenue | 11,389 | 10,396 | + 9.6 | + 993.0 |
| (-) Sales taxes | (2,262) | (2,075) | + 9.0 | - 186.5 |
| (-) Sector charges | (1,130) | (827) | + 36.6 | - 302.7 |
| (-) Combined net revenue | 7,998 | 7,494 | + 6.7 | + 503.8 |
| (-) Concession financial asset (VNR) | (259) | (301) | - 13.9 | + 41.7 |
| (-) Infrastructure construction revenue | (1,265) | (1,095) | + 15.5 | - 170.0 |
| (-) Combined adjusted net revenue | 6,474 | 6,098 | + 6.2 | + 375.4 |
| (-) Uncontrollable costs and expenses | (3,688) | (3,310) | + 11.4 | - 377.9 |
| Electricity purchased for resale | (2,690) | (2,456) | + 9.5 | - 234.5 |
| Charge for using transmission and distribution system | (997) | (854) | + 16.8 | - 143.4 |
| (-) Gross margin | 2,786 | 2,788 | - 0.1 | - 2.4 |
| (-) Provision for ERO's RTE | - | (177) | - | + 176.9 |
| Adjusted gross margin | 2,786 | 2,611 | + 6.7 | + 174.4 |

The factors most driving this net revenue and gross margin change in the quarter were:

a) In the Electricity Revenue item, energy revenue in the captive market grew 2.1% compared to 1Q25, reflecting 0.5% growth in captive consumption (with DG-2 and DG-3) and a positive rate effect of 1.7% due to distribution rate adjustments and rate reviews in 2025. Note that part of the captive sales revenue related to GD-2 and GD-3 is also received via the CDE by DisCos, impacting the item subsidies.

b) In electric system availability, the 33.3% increase (+R$ 299 million) was due to an expanded customer base resulting from new migrations to the free market (+11,7%);

c) The Regulatory Assets and Liabilities item increased by R$ 290 million, mainly due to the following impacts:

• • R$ 135 million due to new CVA CDE quotas approved by ANEEL for 2026;
• • R$ 395 million related to CVA Energy due to higher energy costs in 2026, reflecting the dispatch of thermal plants during the period;
• • R$ 15 million due to increased energy traded in the Spot Market and PLD variation between submarkets;
• • R$ 52 million related to negative neutrality due to market growth in the period compared to the prior year.

d) In the item subsidies for services awarded under concession, the 41.1% (+ R$ 277 million) increase was primarily due to growth in rate subsidies, with a notable rise in the Distributed Generation Electricity Compensation System amounting to R$ 133 million incentivized sources totaling R$ 56 million and Low-income Subsidy of R$ 95 million.

3.1.1 Energy sales

Energy sales in the first quarter of 2026:

| Description
Amounts in GWh | Quarter | | |
| --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % |
| Residential | 4,769 | 4,539 | + 5.1 |
| Commercial | 1,129 | 1,197 | - 5.6 |
| Industrial | 191 | 256 | - 25.2 |
| Rural | 755 | 760 | - 0.7 |
| Other | 977 | 1,034 | - 5.5 |
| 1 Captive sales | 7,822 | 7,786 | + 0.5 |
| Residential | 0.0 | - | - |
| Commercial | 807 | 693 | + 16.6 |
| Industrial | 2,043 | 1,917 | + 6.6 |
| Rural | 136 | 99 | + 37.0 |
| Other | 228 | 170 | + 34.5 |
| 2 Sales (TUSD) | 3,215 | 2,879 | + 11.7 |
| Residential | 4,769 | 4,539 | + 5.1 |
| Commercial | 1,937 | 1,889 | + 2.5 |
| Industrial | 2,234 | 2,173 | + 2.8 |
| Rural | 891 | 860 | + 3.7 |
| Other | 1,206 | 1,204 | + 0.2 |
| 3 Sales (1+2) | 11,037 | 10,665 | + 3.5 |
| 3.1 Offset DG II/III | 903 | 513 | + 76.3 |
| 3.2 Sales - Offset DG II/III (3-3.1) | 10,134 | 10,152 | - 0.2 |
| 4 Unbilled Sales | -60 | -119 | - 49.5 |
| 5 Sales + Unbilled Sales to Consumers (3+4) | 10,977 | 10,546 | + 4.1 |
| 5.1 Sales - Offset GD II/III + unbilled sales to consumers (3.2+4) | 10,074 | 10,034 | + 0.4 |

The data in the above table is subject to energy reclassifications by CCEE.

Additional information is available in the Market Bulletin and Tables by Company (click here).

3.1.2 Electricity losses

Energisa Group ended the first quarter of 2026 with total losses of 12.30%, a result 0.12 p.p. better than the same period in the prior year and 0.02 p.p. lower than the last quarter, reinforcing the indicator's controlled trajectory.

In 1Q26, the Group's consolidated regulatory limit was 12.96%, widening the difference between actual losses to 0.66 p.p. and remaining below the regulatory limit for the fourth consecutive quarter. This performance reflects both the consistency of the actual losses trajectory and the effects of changes in regulatory limits resulting from the new calculation methodology, which began using measured market as a factor in rate processes conducted from 2025 onward.

In this context, seven of the Group's nine distributors ended the quarter operating below their respective regulatory limits. This result reinforces the effectiveness and consistency of the structural loss-reduction initiatives across all Group distributors, which adopt best practices and unified management. Total losses for the distributors ERO and EMT, although still above regulatory levels, have been on a downward trend over the last twelve months.

GROUP

energisa

The following chart illustrates the difference between actual and regulatory losses over recent quarters.

Total energy losses

Energy Losses (% in past 12 months)

DisCo	Technical losses (%)			Non-technical losses (%)			Total losses (%)			ANEEL
% Injected energy (12 months)	Mar/25	Dec/25	Mar/26	Mar/25	Dec/25	Mar/26	Mar/25	Dec/25	Mar/26
EMR	8.06	8.44	8.71	-0.10	-0.79	-1.01	7.96	7.65	7.70	10.51
ESE (*)	7.73	7.69	7.68	2.36	2.14	2.13	10.09	9.84	9.81	12.11
EPB	8.40	8.39	8.36	3.70	3.60	3.69	12.10	11.99	12.06	13.29
EMT (*)	8.82	8.78	8.68	5.41	5.14	5.28	14.23	13.92	13.95	12.67
EMS (*)	7.62	7.51	7.49	3.81	4.57	4.39	11.43	12.07	11.88	13.47
ETO	9.54	8.10	7.80	0.59	1.55	1.92	10.13	9.65	9.72	13.21
ESS	6.13	6.10	6.09	0.14	0.55	0.40	6.27	6.66	6.49	7.14
ERO	8.86	8.40	8.34	12.11	11.82	11.77	20.97	20.22	20.12	19.36
EAC	9.32	9.28	9.34	5.17	5.19	5.23	14.49	14.47	14.57	16.73
Energisa Consolidated %	8.24	8.08	8.04	4.18	4.24	4.27	12.42	12.32	12.31	12.96

Nb:
(1) The results of previous quarters are subject to adjustments after the results announced by the Energy Trading Chamber, CCEE.
Nb: Regulatory losses began to have their loss limits determined based on the new methodology, which considers the measured market as the benchmark, following the rate adjustment processes carried out in 2025 for the distributors.
Thus, throughout 2025 the sector underwent the methodological transition and, by the end of 2026, all distributors will have their regulatory limits and results fully reflecting the complete effects of the new methodology.
See this and other tables in Excel available on this link.

3.1.3 Delinquency management

3.1.3.1 Collection fee

Energisa Group's consolidated 12-month collection rate reached 97.18%, marking the best result in its historical series for the first quarter, despite an ongoing challenging economic environment marked by rising default rates nationwide.

This performance is attributed to our diligence in executing agile and effective collection processes, supported by robust analytical intelligence implemented by Energisa.

Collection rate (%)	In 12 months (%)
	Mar/26	Mar/25	Change in p.p.
EMR	98.50	98.55	-0.05
ESE	98.58	98.47	+0.11
EPB	97.93	97.98	-0.05
EMT	96.50	96.30	+0.20
EMS	97.19	97.13	+0.06
ETO	98.03	97.93	+0.10
ESS	98.78	98.86	-0.08
ERO	94.67	94.09	+0.58
EAC	96.44	95.93	+0.51
Energisa Consolidated	97.18	97.01	0.17

All Group companies recorded improved or stable performance, with EMT, ERO, EAC, ESE, and ETO standing out once again, primarily due to the reduction in delinquency among low-voltage residential customers. This progress was bolstered by Provisional Measure (MP) No. 1,300/2025, which granted an electricity tariff exemption to low-income families with consumption up to 80 kWh/month starting in July 2025.

As shown in the chart below, the consolidated performance in 1Q26 surpassed the 97% mark. The result reinforces the structural improvement trend and demonstrates the consistency of performance over time.

Collection Rate

3.1.3.2 Delinquency rate

Energisa Group's consolidated LTM delinquency rate (last 12 months) was 1.41% in 1Q26, an increase of 4 bps over the same period of the previous year. This performance was temporarily impacted by the recognition of an R$ 21 million loss related to Oi credits (administrative claims and utility bills from March 2023 to November 2025), following a reverse auction held as part of its judicial reorganization.

Excluding this extraordinary effect, the index would be 1.34%, maintaining the downward trajectory compared to both 1Q25 (-3 bps) and 4Q25 (-1 bps).

To reduce the index and PECLD balance, Energisa maintains its strategy of recovering past-due debts through the regularization program for individual customers. At EAC and ESE, due to the program's longer maturation period, decreases of -1.13 bps and -0.03 bps were recorded, respectively, despite the Oi provision, as shown in the table below. At the other DisCos, the index increase is directly related to the provision for said telecommunications operator.

In the specific case of EMS, this was compounded by the impact of the change in the state Conta de Luz Zero program for low-income customers, which reduced the number of beneficiaries by 80%. As a consequence, many consumers began receiving electricity bills that had previously been paid by the State. Although the effects of Provisional Law No. 1.300/2025 mitigated this movement, they were not sufficient to contain the increase in delinquency in this segment. Energisa has been actively addressing this situation by raising awareness and encouraging re-registration with the state government, in addition to stepping up administrative collection efforts and service suspension actions.

| PPEELD
(% of supply invoiced) | In 12 months (%) | | |
| --- | --- | --- | --- |
| | Mar/26 | Mar/25 | Change in p.p. |
| EMR | 0.60 | 0.33 | +0.27 |
| ESE | 0.60 | 0.63 | -0.03 |
| EPB | 0.81 | 0.87 | -0.06 |
| EMT | 1.88 | 1.96 | -0.08 |
| EMS | 1.55 | 1.32 | +0.23 |
| ETO | 0.62 | 0.53 | +0.09 |
| ESS | 0.30 | 0.30 | 0.00 |
| ERO | 3.03 | 2.44 | +0.59 |
| EAC | 1.82 | 2.95 | -1.13 |
| Total | 1.41 | 1.37 | +0.04 |

The Group continues to improve delinquency management through the automation of collection processes and a flexible strategy, adjusted to customer behavior. The strategic initiatives include credit solutions tailored to consumer profiles, the expansion of digital tools and registration for low-income program customers, the prioritization of collection actions to maximize cash recovery, monitoring and working with large-client debts.

3.1.3.3 Service quality indicators for distribution services - DEC and FEC

In 1Q26, the Group's DisCos continued to show consistent results, outperforming the Global DEC and FEC regulatory limits in all concessions.

The result reflects disciplined management of improvement projects and maintenance plans, and strategic capital allocation, always aiming to adopt best practices to minimize service interruptions despite the intensification of severe weather events. This reinforces the company's commitment to delivering high-quality energy to all customers.

The following table presents the results for the period:

DisCos Service quality indicators	DEC Global (hours)			FEC Global (times)			DEC limit	FEC limit
	Mar/26	Mar/25	Change(%)	Mar/26	Mar/25	Change(%)
EMR	7,94	8,05	- 1,4	3,93	4,34	- 9,4	9,31	6,20
ESE	9,43	8,69	+ 8,5	4,28	4,13	+ 3,6	10,10	6,07
EPB	9,08	9,59	- 5,3	3,47	3,71	- 6,5	12,03	6,85
EMT	14,15	15,20	- 6,9	6,28	6,46	- 2,8	16,52	10,70
EMS	8,98	9,10	- 1,3	4,25	4,35	- 2,3	9,53	6,07
ETO	14,48	15,16	- 4,5	5,41	5,55	- 2,5	16,44	9,92
ESS	5,38	5,12	+ 5,1	3,18	2,87	+ 10,8	6,32	5,06
ERO	18,88	20,78	- 9,1	6,97	7,63	- 8,7	23,77	14,57
EAC	24,22	22,66	+ 6,9	8,43	8,05	+ 4,7	39,06	26,76

The data presented is obtained from ANEEL databases and can be changed if requested by the regulator

The DisCos EPB, ETO and ERO recorded the best rates in their historical series, with reductions of 5.2% (FEC), 4.5% (DEC) and 9.0% (DEC), respectively, reflecting efficient capital allocation and operation and maintenance measures. Distribution company EMT recorded the best rates in its historical series, with reductions of 6.5% (DEC) and 2.6% (FEC).

On November 03, 2022, official letter 44/2022 established the minimum percentage target of 80% of sets within the regulatory boundaries of DEC and FEC from 2023 to 2026.

To achieve the aforesaid 80% target by 2026, annual goals were set for each concession operator, considering a gradual increase in the minimum percentage of sets within the regulatory limits. According to ANEEL data, all companies have already achieved the 80% target for the FEC indicator, with ESE, EAC, ERO, ETO and ESS coming top of class with 100% compliance. For DEC, 6 of the 9 distribution companies already exceed the target, while the others continue with recovery plans being executed over the coming months, considering that regulatory measurement occurs at year-end.

3.1.4 Compensation account for Parcel A amounts (CVA)

The Compensation Account for Parcel A (CVA) is a regulatory mechanism introduced by Interministerial Ordinance 25/2002 intended to record the changes in costs incurred on energy purchases, energy transportation and sector charges in the period between the DisCo's rate events. This mechanism aims to neutralize the effects of these costs, called "Parcel A" and the whole assured rate pass-through, to mitigate direct impacts on the earnings of DisCos over time.

The amount of R$ 602.9 million was credited to assets in the 1st quarter of 2026, an increase of R$ 443.3 million on 1Q25. This movement primarily reflects the fact the actual costs incurred exceeded the amounts included in the current rates settled in 2025. The main observed variation results from higher quotas for the Energy Development Account (CDE) for the current rate cycle, with significant impact on sector charges. The observed impact also stems from higher energy acquisition costs, shaped by less favorable hydrological conditions that raised the need for thermal dispatch and, consequently, spot purchases, also relating to seasonal consumption effects that alter the distribution company's level of exposure to the energy market.

Regarding amortization, R$ 279.1 million was recognized in 1Q26, representing a decrease of R$ 152.5 million compared to 1Q25. This variation is primarily associated with amounts approved in previous rate-setting review processes, which incorporated regulatory balances of lower volume.

Thus, the combined behavior of higher accrual and lower amortization in the period results in an increase in the regulatory asset balance, which will be appropriately offset in future rates according to the mechanisms established by current regulations.

3.1.5 Rate reviews and adjustments

The effects for consumers deriving from the latest adjustment processes and rate review of each Energisa Group DisCo were as follows:

DisCo	Effect on Consumers (%)			Start of term	Monetary Restatement - adjustment events	Review Process
	Low Voltage	High and Medium Voltage	Medium
EMR	+4.12	+1.61	+3.61	06/22/2025	IPCA	Annual Adjustment
ESE	+5.24	+12.36	+6.86	04/23/2026	IGP-M	Annual Adjustment
EPB	+13.94	+12.11	+13.59	08/28/2025	IGP-M	Revision
EMT	+5.27	+10.42	+6.86	04/23/2026	IGP-M	Annual Adjustment
EMS	+11.98	+12.39	+12.11	04/23/2026	IGP-M	Annual Adjustment
ETO	+12.55	+13.25	+12.68	07/04/2025	IPCA	Revision
ESS	+19.15	+18.80	+19.05	07/12/2025	IPCA	Annual Adjustment
ERO	+15.01	+18.49	+15.72	12/13/2025	IPCA	Annual Adjustment
EAC	+9.51	+20.24	+11.54	12/13/2025	IPCA	Annual Adjustment

ENERGISA GROUP
24

3.1.6 Regulatory remuneration base

The process of valuing assets of the regulatory remuneration base uses the VNR – New Replacement Value, which denotes the value at current market prices of an identical, similar or equivalent asset subject to replacement, which provide the same services and have the same capacity as the existing asset, including all the expenses necessary to install it. The ratified Net Remuneration Base (BRL) of the electricity DisCos, adjusted for IPCA for March/2026, are as follows:

DisCo	Regulatory BRL restated by the IPCA index through March 2026 (R$ millions)	Date of last Rate-Setting Review	Rate Cycle	WACC (before tax)	Next Rate-Setting Reviews
EMR	841	June/2021	5^{th}	10.62%	June/2026
ESS	1,440	July/2021			July/2026
EPB	3,321	August/2025	6^{th}	12.17%	August/2030
ESE	1,480	April/2023			April/2028
EMT	7,553	April/2023	5^{th}	11.25%	April/2028
EMS	3,810	April/2023			April/2028
ETO	3,090	July/2025	6^{th}	12.17%	July/2030
ERO	3,362	December/2023	5^{th}	11.25%	December/2028
EAC	1,167	December/2023			December/2028
Total	26,065

The consolidated compensation base of the electricity DisCos extracted from the corporate financial information includes depreciation, write-offs and new additions, as shown below:

| Description
Amounts in R$ million | Note to the financial statements | 03/31/2026 | 03/31/2025 | Change % |
| --- | --- | --- | --- | --- |
| Concession financial asset | 13.1 | 18,716 | 15,396 | 21.6% |
| Contractual asset - infrastructure under construction | 14 | 3,152 | 2,559 | 23.2% |
| Intangible assets - concession agreement | 17 | 19,277 | 18,943 | 1.8% |
| (-) Exclusion of asset appreciation determined in the purchase price allocation (PPA) of the business combination | 17 | 5,772 | (6,174) | -6.5% |
| Total | | 35,373 | 30,724 | 15.1% |

3.1.7 Parcel B

DisCo	Parcel B
	DRA (1)	DRP (2)	Change (R$ million)	Change %	Review Process
EMR	429	458	29	+6.8	Annual Adjustment
ESE	663	706	43	+6.5	Annual Adjustment
EPB	1,189	1,246	57	+4.8	Revision
EMT	2,888	3,081	193	+6.7	Annual Adjustment
EMS	1,761	1,896	135	+7.6	Annual Adjustment
ETO	1,088	1,217	129	+11.8	Revision
ESS	605	655	49	+8.1	Annual Adjustment
ERO	1,149	1,199	50	+4.3	Annual Adjustment
EAC	439	450	11	+2.5	Annual Adjustment
Total	10,211	10,906	695	+6.81

(1) DRA – Previous Reference Date: defined as the date the last rate process ratified by ANEEL is effective from, be it an adjustment or rate review, which includes the costs incurred and revenue earned in the twelve months relating to the rate process.
(2) DRP – Processing Reference Date: the DRP is defined as the date the rate process under analysis to be ratified by ANEEL is effective from, be it an adjustment or rate review, which includes the costs and revenue projected for the twelve months relating to the rate process. Both use the same reference market and the ratio between the two therefore only shows the rate increase of the component.

3.2 Operating costs and expenses

See below the breakdown of the DisCos' operating costs and expenses.

| Breakdown of operating costs and expenses
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| 1 Non Manageable costs and expenses | 3,688 | 3,310 | + 11.4 | + 377.9 |
| 1.1 Electricity purchased for resale | 2,690 | 2,456 | + 9.5 | + 234.5 |
| 1.2 Charges for using the transmission and distribution system | 997 | 854 | + 16.8 | + 143.4 |
| 2 Manageable costs and expenses | 995 | 955 | + 4.2 | + 40.1 |
| 2.1 PMSO | 797 | 785 | + 1.5 | + 11.5 |
| 2.2 Provisions/Reversals | 198 | 170 | + 16.8 | + 28.6 |
| 2.2.1 Contingencies | 41 | 35 | + 17.5 | + 6.2 |
| 2.2.2 Expected credit losses | 157 | 135 | + 16.6 | + 22.4 |
| 3 Other revenue/expenses | 490 | 423 | + 15.8 | + 66.9 |
| 3.1 Amortization and depreciation | 412 | 363 | + 13.6 | + 49.3 |
| 3.2 Other revenue/expenses | 79 | 61 | + 29.1 | + 17.6 |
| Total (exc. infrastructure construction cost) | 5,173 | 4,689 | + 10.3 | + 484.9 |
| Infrastructure construction cost | 1,265 | 1,095 | + 15.5 | + 170.0 |
| Total (including infrastructure construction cost) | 6,439 | 5,784 | + 11.3 | + 654.9 |

3.2.1 Manageable operating costs and expenses

PMSO (Personnel, Materials, Services and Other)

PMSO expenses rose by 1.5% (R$ 12.0 million), to R$ 797 million in the quarter, remaining below inflation in the period.

See below PMSO expenses by distribution company:

| Combined PMSO
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Personnel and retirement benefits | 369 | 357 | + 3.5 | + 12.6 |
| Material | 70 | 70 | - 1.3 | - 0.9 |
| Outsourced services | 327 | 331 | - 1.3 | - 4.2 |
| Other | 31 | 27 | + 14.9 | + 4.0 |
| ✓ Contractual and regulatory penalties | 2 | 0 | + 560.1 | + 1.3 |
| ✓ Other | 29 | 27 | + 10.3 | + 2.7 |
| Total combined PMSO | 797 | 785 | + 1.5 | + 11.5 |
| IPCA / IBGE (12 months) | 4.14% | | | |
| IGPM / FGV (12 months) | -1.83% | | | |

The main changes in PMSO expenses are detailed below:

• Personnel and Retirement Benefits

In the quarter, personnel and post-employment benefits were R$ 369 million, an increase of 3.5% (+R$ 13 million), mainly explained by the increase in salaries and payroll charges (R$ 25 million).

• Material

Materials expenses amounted to R$ 70 million in 1Q26, similar to those in 1Q25.

• Services

Expenses on outsourced services amounted to R$ 327 million in 1Q26, a decrease of 1.3% (+R$ 4 million), similar to 1Q25.

Other expenses

In the quarter, other expenses amounted to R$ 31 million, an increase of 15% (-R$ 5 million) mainly due to the reduction in Fuel Consumption Account (CCC) reimbursement revenue, which was R$ 14.8 million lower than the prior period due to a methodological adjustment per ANEEL Normative Resolution No. 1.141 of December 2025, in the O&M benchmark price for photovoltaic sources, to align it with current technology costs compared to previously indexed values. In contrast, sponsorship and donation expenses decreased by R$ 12 million due to the group's 120th anniversary celebrations having taken place in 2025.

See this and other tables in Excel available on this link.

3.2.2 Other operating expenses

The group other operating expenses amounted to R$ 689 million in the quarter, against R$ 593 million in the same period last year, an increase of R$ 16.1%.

| Other expenses - combined
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | |
| Provisions/Reversals | 198 | 170 | + 16.8 | + 28.6 |
| Legal claims | 41 | 35 | + 17.5 | + 6.2 |
| Expected credit losses for doubtful accounts | 157 | 135 | + 16.6 | + 22.4 |
| Other revenue/expenses | 490 | 423 | + 15.8 | + 66.9 |
| Amortization and depreciation | 412 | 363 | + 13.6 | + 49.3 |
| Other revenue/expenses | 79 | 61 | + 29.1 | + 17.6 |
| Total combined | 689 | 593 | + 16.1 | + 95.5 |

Legal claims

The provisions/reversals item returned an expense of R$ 41 million in 1Q26, an increase of 17.5% (R$ 6 million) compared to 1Q25, driven mainly by risk adjustments involved in ongoing proceedings, as detailed in consolidated section 2.2 (consolidated) of this report.

Expected credit losses for doubtful accounts ("PPECLD")

The PPECLD was R$ 157 million in 1Q26, an increase of 16.6% (+R$ 22 million) compared with the R$ 135 million in 1Q25. For further information see item 3.1.3.2 of this report.

Other revenue/expenses

Other net expenses were R$ 79 million in the quarter, an increase of 29.1% (R$ 18 million) compared with the same period last year, mainly due to greater decommissioning at DisCos.

3.3 EBITDA

The combined recurring adjusted EBITDA of the DisCos amounted to R$ 1,712 million in the quarter, an increase of 7.3% on the same quarter last year.

| Description
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| (=) Combined EBITDA of DisCos | 1.971 | 2,073 | - 4,9 | - 101.8 |
| (-) VNR - Distribution | (259) | (301) | - 13,9 | + 41.7 |
| (=) Combined adjusted EBITDA | 1,712 | 1,772 | - 3,4 | - 60.1 |
| Provision for ERO's RTE | - | (177) | - | + 176.9 |
| (=) Recurrent adjusted EBITDA | 1,712 | 1.595 | + 7,3 | + 116.8 |

For more detailed information on the indicator changes by company, please see each DisCo's release.

The EBITDA figures per company are in Appendix A3.

3.4 Net income for the period

The DisCos' recurring combined net income amounted to R$ 439 million in the quarter, a decrease of 21.3% on the same quarter last year, as shown below:

| Amounts in R$ million
Net income | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| (=) Net Income | 652 | 981 | - 33.6 | - 329.5 |
| (-) VNR - Distribution | (207) | (238) | - 12.9 | + 30.7 |
| (=) Adjusted combined net income for the period | 445 | 744 | - 40.2 | - 298.8 |
| Provision for ERO's RTE | - | (185) | - | + 185.0 |
| (=) Adjusted recurrent combined net income for the period | 445 | 559 | - 20.4 | - 113.8 |

The net income figures per company are in Appendix A3.

4. TRANSMISSION

4.1 Consolidated economic and financial results - Corporate vs. Regulatory

Main impacts on corporate results

ETE's consolidated corporate economic and financial performance has been summarized below:

| IFRS Economic and Financial Performance
Results - R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Infrastructure construction revenue | 40 | 44 | - 9.2 | - 4.1 |
| Efficiency gain on implementing infrastructure | (4) | 1 | - | - 4.3 |
| Revenue from construction performance obligation margins | 14 | 12 | + 10.1 | + 1.3 |
| Operation and maintenance revenue | 3 | 17 | - 84.1 | - 14.5 |
| Concession asset remuneration | 255 | 302 | - 15.6 | - 47.2 |
| Other operating revenue | 34 | 27 | + 29.3 | + 7.8 |
| Total of gross revenue | 342 | 403 | - 15.2 | - 61.0 |
| Deductions from revenue | (30) | (34) | - 12.7 | + 4.3 |
| Net operating revenue | 312 | 369 | - 15.4 | - 56.7 |
| Construction cost | (39) | (42) | - 8.3 | + 3.5 |
| Gross margin | 274 | 327 | - 53.3 | - 53.3 |
| PMSO | (29) | (31) | - 6.9 | + 2.1 |
| Other operating expenses (1) | 2 | 0 | + 846.4 | + 1.4 |
| Depreciation/Amortization | (0) | (0) | + 1.7 | - 0.0 |
| Finance income/loss | (96) | (106) | - 9.2 | + 9.7 |
| Income and social contribution taxes | (49) | (33) | + 49.5 | - 16.3 |
| Net income for the period | 101 | 157 | - 35.8 | - 56.3 |
| EBITDA | 246 | 296 | - 16.8 | - 49.7 |
| EBITDA Margin (%) | 79 | 80 | - 1.3 p.p. | - |

(1) It includes provisions and reversals for labor, civil, regulatory, environmental and tax contingencies and other revenue/expenses.

> Net operating revenue (statutory) for 1Q26 was R$ 312 million, a decrease of R$ 56,7 million compared to 1Q25, primarily due to lower construction revenue and margin, resulting from lower capital investments in the EAM and EAM II concessions, and in large and small reinforcements at LMTE and LXTE companies. Additionally, there was a reduction in contract asset remuneration, explained by amortizations incurred between periods and by the lower IPCA rate in 1Q26 compared to 1Q25.

> PMSO for 1Q26 totaled R$ 29 million, showing a reduction of R$ 2 million compared to 1Q25, primarily due to lower spending on spare parts acquisitions and improvements during the period, particularly at the Gemini group companies (LXTE and LMTE).

Main impacts of the regulatory result

Note: This section presents the regulatory results of the Company's transmission segment. The regulatory results aim to present an analysis of the regulatory/managerial performance of the TransCos, in accordance with transmission sector practices. It should not therefore be considered an official economic and financial report of the Company for the Brazilian Securities Commission (CVM), which follows the IFRS standards issued by the International Accounting Standards Board (IASB). The Regulatory Financial Statements (DCRs) presented here are audited annually by April 30 each financial year upon submission of the regulatory financial statements to ANEEL. Matters specifically related to the regulatory accounting disclosed before the conclusion of the DCRs are subject to change.

ETE's consolidated regulatory economic and financial performance has been summarized below:

ENERGISA GROUP
28

Regulatory Economic and Financial Performance Results - R$ million	Quarter
	1Q26	1Q25	Change %	Change R$
Annual permitted revenue	218	210	+ 4.1	+ 8.0
Revenues	218	210	+ 4.1	+ 8.0
Deductions from revenue	(23)	(22)	+ 1.6	- 1.0
Net operating revenue	195	187	+ 4.3	+ 8.0
PMSO	(29)	(28)	+ 3.8	- 1.0
Other operating expenses (1)	4	0	-	+ 4.0
Amortization/Depreciation	(50)	(47)	+ 6.7	- 3.0
Finance income/loss	(96)	(106)	- 9.2	+ 10.0
Income and social contribution taxes	(21)	4	-	- 25.0
Regulatory net income (loss)	3	12	- 71.7	- 9.0
Regulatory EBITDA	170	160	+ 6.7	+ 10.0
EBITDA Margin (%)	87	85	+ 1.9 p.p	-

(1) It includes provisions and reversals for labor, civil, regulatory, environmental and tax contingencies and other revenue/expenses.

> Energisa Transmissão de Energia (ETE) posted regulatory EBITDA of R$ 170 million in 1Q26, an increase of R$ 10 million compared to 1Q25, driven primarily by growth in Net Regulatory Operating Revenue, reflecting the 5.32% RAP rate adjustment (IPCA) for the 2025/2026 cycle, higher supplementary AVC records and reduced unavailability (PV) compared to 1Q25, particularly at the EPA I and ETT I concessions. These positive effects were partially offset by a 3.8% increase in PMSO, below the period's IPCA of 4.14%, associated with higher spending on security, preventive maintenance and right-of-way clearance, especially at the LMTE and LXTE concessions.

5. (RE)ENERGISA

5.1 Distributed generation

Distributed generation installed capacity in 1Q26 comprises 126 solar photovoltaic plants (UFV), totaling 473 MWp of capacity, by region as follows:

DisCo	Plants	MWp
Minas Gerais	67	208
Mato Grosso	19	94
Rio de Janeiro	5	14
São Paulo	9	43
Mato Grosso do Sul	17	83
Ceará	4	13
Maranhão	1	5
Pernambuco	3	7
Piauí	1	6
Total	126	473

The segment's economic and financial performance has been summarized below:

| Distributed Generation
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| (-) Net revenue | 93 | 88 | + 6.1 | + 5.0 |
| (-) CUSD | (17) | (13) | + 30.4 | - 4.0 |
| (-) PMSO | (29) | (30) | - 3.7 | + 1.0 |
| (+) Other costs and expenses | 0 | (1) | - | + 1.0 |
| (-) EBITDA | 47 | 43 | + 8.4 | + 4.0 |
| (+) Amortization and depreciation | (27) | (21) | + 24.8 | - 6.0 |
| (+/-) Financial income/loss | (58) | (41) | + 40.8 | - 17.0 |
| (+/-) IR/CSLL | 13 | 7 | + 93.8 | + 6.0 |
| (+) Net income (loss) for the period | (25) | (13) | + 97.0 | - 12.0 |

The distributed generation business unit of (re)energisa posted net revenue of R$ 93 million in 1Q26, an increase of 6.1% compared to the same period last year, reflecting the upward trajectory of commercial indicators in 2026: delinquency declined 0.6 p.p. in 1Q26 versus 1Q25 and, during this same period, monthly churn remained virtually stable. Regarding acquisition indicators, sales in 1Q26 grew 108.8% compared to 1Q25. The customer base generating revenue remains the largest in Alsol's history, with a 25.4% increase in March 2026 compared to the same month in 2025.

Despite increased sales force between periods, PMSO showed a 3.6% reduction, reflecting productivity gains and improved OPEX efficiency. CUSD grew 30.4% compared with 1Q25, in line with the greater installed capacity due to the expansion of the operating base.

EBITDA reached R$ 47 million in 1Q26, growth of 8.4% versus 1Q25, reflecting the commercial and operational strategy adopted, oriented toward increasing asset profitability.

5.2 Electricity marketing

Nb: Since 2Q25, Clarke's results have been incorporated into the Trading Company's results to align with the nature of the business. They were previously classified under "Holding/Other." To facilitate a comparative analysis, this adjustment was also applied to the 1Q25 results. It is important to note that this change does not impact Energisa's consolidated result, as it is merely a reclassification between P&L items.

In the first quarter of 2026, the hydrological situation underperformed the same period of 2025, with Natural Energy Feed (ENA) remaining among the lowest in the historical series. As a consequence, reservoir storage levels were impacted, ending 1Q26 at 68.8%, representing a reduction of 0.8 percentage points compared with the same date of the previous year. This led the PLD (Difference Settlement Price) to rise in the period to R$ 308/MWh, above the amount observed in the first quarter of 2025.

In 1Q26, energy revenue grew by 43.6%, driven by the acquisition of new clients and strategic trading operations.

Regarding retail migrations, the first quarter of 2026 (1T26) saw a decline in the number of new units compared to the previous year. This was driven by a rise in wholesale energy prices, which reduced the competitiveness between the Free Contracting Environment (ACL) and the Regulated Contracting Environment (ACR).

| Description
Amounts in GWh | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Sales to free consumers (ECOM) | 2,192 | 2,137 | +2.6% | + 55.0 |

Comercializadora's economic and financial performance has been summarized below:

Amounts in R$ million	Quarter
	1Q26	1Q25	Change %	Change R$
(+) Net Revenue	461	320	+ 43.9	+ 141.0
Electricity purchases	(474)	(293)	+ 61.7	- 181.0
Spread	(13)	27	-	- 40.0
MtM effect	34	(74)	-	+ 108.0
PMSO	(9)	(10)	- 8.9	+ 1.0
Other revenue/expenses	(1)	(0)	+ 223.8	- 1.0
EBITDA	11	(58)	-	+ 69.0
Depreciation and amortization	(0)	(0)	+ 274.4	+ 0.0
Finance income/loss	(4)	(0)	+ 821.8	- 4.0
Income Tax/Social Contribution	(2)	19	-	- 21.0
Net income (loss)	4	(39)	-	+ 43.0

See below the adjusted EBITDA and adjusted Net Income of the Trading Company, excluding the MTM effect for the period:

| EBITDA Trader
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| (+) EBITDA | 11 | (58) | - | + 69.0 |
| Mark-to-market (MTM) | 34 | (74) | - | + 108.0 |
| (+) Recurrent adjusted EBITDA | (23) | 17 | - | - 40.0 |
| Net Income Trader
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| (+) Net income/(loss) for the period | 4 | (39) | - | + 43.0 |
| Mark-to-market (MTM) | 22 | (49) | - | + 71.0 |
| (+) Net income/(loss) for the period | (18) | 10 | - | - 28.0 |

In the first quarter of 2026, net revenue grew 43.9%, despite a volume decline (-1.1%), driven by negotiated prices of +30.1%. During this period, EBITDA improved by R$ 69 million compared to 1Q25, while PMSO decreased 8.9%, reflecting expense optimization and the retailer's lean structure, plus significant improvement in mark-to-market (MTM) results, stemming from a strategy shift by the retailer, which expanded its portfolio with new transactions and achieved a 145.3% increase. This evolution results from more diligent action in selecting structured transactions with better risk-return profiles, focus on serving end consumers, and greater operational value generation. The mark-to-market of the contracts was R$ 34 million, a change of +R$ 108.1 million without cash effect, related to price increases and portfolio returns.

The trading company's spread totaled -R$ 13 million, a reduction of R$ 40 million versus 1Q25. Recurring adjusted EBITDA decreased by R$ 39.9 million, impacted by spread and price/volume relationship, while demonstrating the value of the strategy focused on structured transactions and end consumers.

5.3 Added value services

The segment's economic and financial performance has been summarized below:

| Added value services
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Net revenue | 51 | 46 | + 11.9 | + 5.0 |
| PMSO | (45) | (42) | + 6.7 | - 3.0 |
| Other costs and expenses | (0) | (1) | - 61.6 | + 1.0 |
| EBITDA | 6 | 3 | + 105.2 | + 3.0 |
| Amortization and depreciation | (3) | (4) | - 16.0 | + 1.0 |
| Finance income/loss | 2 | 1 | + 44.7 | + 1.0 |
| Income Tax/Social Contribution | (2) | (0) | + 466.3 | - 2.0 |
| Net income (loss) for the period | 3 | 0 | + 804.7 | + 3.0 |

EBITDA in 1Q26 was R$ 4 million higher than in the same period of the previous year, mainly due to:

(i) increased contribution margin driven by construction volume, which explains the growth in net revenue and operating costs, combined with fixed cost optimizations related to structure, with a 12.7% reduction that together total +R$ 3 million.
(ii) recognition of other revenues and expenses (residual asset sales) due to contracts demobilized in previous cycles with +R$ 1 million, which contributed to the result.

The sales pipeline in the first quarter showed robust growth of +287% in new business volume, strengthening our value generation portfolio and broadening the foundation for sustainable growth in upcoming cycles. This was driven by our one-stop-shop strategy, which integrates construction and energy solutions for large-scale clients.

6. CENTRALIZED GENERATION

| Rio do Peixe I e II
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change % |
| Net revenue | 7 | 8 | - 6,3 | - 0.5 |
| PMSO | (1) | (1) | - 5,7 | + 0.1 |
| Other costs and expenses | (1) | (2) | - 15,7 | + 0.3 |
| EBITDA | 5 | 5 | - 3,1 | - 0.1 |
| Amortization and depreciation | (4) | (4) | + 0,4 | - 0.0 |
| Finance income/loss | 0.4 | (2) | - | + 2.6 |
| Income and social contribution taxes | (0.6) | 0.01 | - | - 0.6 |
| Net income | 0.9 | (1.0) | - | + 1.9 |

In 1Q26, the segment's net revenue totaled R$ 7 million, a decrease of R$ 0.5 million compared to 1Q25, due to lower energy generation in the period, since in 1Q25 there were sales of surplus energy after fulfillment of long-term contracts. EBITDA reached R$ 5 million, down 3.1% year-over-year, mainly reflecting the variation in PLD, which also contributed to the reduction in PMSO expenses. Finance income improved, with a positive impact of R$ 2 million compared to 1Q25, driven by higher revenues from financial investments and the monetary restatement of tax credits recoverable. As a result, the Company recorded net income of R$ 0.9 million in 1Q26, reversing the loss recorded in the same period of the previous year.

7. VOLTZ

Voltz is the Energisa Group's fintech, created to democratize access to financial services and expand digital financial inclusion. Launched in May 2020, the Company combines technology with the Group's consolidated customer base.

In a short period of operation, Voltz has already demonstrated consistent evolution, evidenced by relevant indicators, and already displays solid financial performance, with an EBITDA exceeding R$ 46 million and a Return on Equity (ROE) of 28% in 2025. Its current strategic focus is to consolidate its presence within the Group's ecosystem by providing unique solutions for each division and their respective clients.

Five consolidated business lines

• Consumer credit (B2C): invoice financing with digital contracting in approximately 3 minutes
• Business credit (B2B): factoring for suppliers
• Insurance and assistance: products charged in energy bills
• Infrastructure financing: credit for suppliers with contractual guarantee
• Digital payments: payments via PIX, credit card acquiring, and installments.

| VOLTZ
Amounts in R$ million | Quarter | | | |
| --- | --- | --- | --- | --- |
| | 1Q26 | 1Q25 | Change % | Change R$ |
| Net revenue | 12 | 8 | + 54,5 | + 4,3 |
| PMSO | (7) | (9) | - 13,2 | + 1,0 |
| Other costs and expenses | 0 | 2 | - 89,6 | + 1,0 |
| EBITDA | 5 | 1 | + 280,4 | + 0,0 |
| Equity Method | 4 | 8 | - 50,3 | + 0,0 |
| Amortization and depreciation | (1) | (1) | + 11,4 | + 0,0 |
| Finance income/loss | 1 | 0 | + 203,2 | + 1,0 |
| Income and social contribution taxes | (1) | - | - | - 1,0 |
| Net income | 8 | 9 | - 10,0 | - 1,0 |
| Cash Generation | 8 | 9 | -4,7% | (0) |

Voltz reported growth in 1Q26, driven by the increased maturity of its products and greater market penetration, reaching net revenue of BRL 12 million, 54,5% higher than 1Q25.

PMSO expenses were reduced by 13,2%, reflecting the optimization of contracted services, primarily related to software.

The equity income line, which captures the results of two credit operations structured through FIDCs: (i) invoice financing for clients and (ii) credit extended to suppliers, reached BRL 4 million in 1Q26, a 50.3% decrease compared to 1Q25. The invoice financing product showed consistent revenue growth, indicating higher origination volumes (a 53% increase compared to 1Q25).

Despite the revenue increase, when comparing the results, there is a distortion, given that in February 2026 an ECL (Expected Credit Loss) adjustment of approximately BRL 4 million was recorded. This movement stems from a proactive revision of loss rating parameters, with the aim of aligning provisions to a level more consistent with observed actual behavior, in line with best accounting practices. Regarding the business credit product, it demonstrated resilience with a 58% increase in origination compared to 1Q25. This performance was accompanied by improvements in portfolio quality and a significant reduction in ECL provisions, reflecting greater operational maturity and predictability, which enhanced the conversion of revenue into results. Considering the healthier and more balanced base, the operation establishes solid foundations to resume growth with gradual traction from 2Q26 onwards.

Financial income grew by 203%, driven by a 271% expansion in the Company's cash position compared to the same period of the prior year, reflecting greater availability of funds in financial investments.

Excluding the non-recurring effect related to the ECL provisioning methodology, the Company's Net Income would have recorded growth of 33%.

GRUPO energisa

8. NATURAL GAS DISTRIBUTION

8.1 Overview

Energisa Distribuidora de Gás (EDG) is the holding company responsible for the natural gas distribution segment. See below the corporate structure chart, illustrating EDG's control structure within Energisa Group:

• ES Gás. The company supplies over 96,000 consumer units and operates an extensive network of approximately 664 km. Responsible for distributing piped natural gas in the State for Espírito Santo, ES Gás is serving various sectors, including residential, commercial, industrial, automotive, climate control, cogeneration and thermoelectric generation.
• Through Norgás, Energisa holds equity interests in key natural gas distribution companies in the Northeast region. The Group is involved in the operations of Algás (Gás de Alagoas), Cegás (Companhia de Gás do Ceará), Copergás (Companhia Pernambucana de Gás), and Potigás (Companhia Potiguar de Gás), which serve the states of Alagoas, Ceará, Pernambuco, and Rio Grande do Norte, respectively. Through this strategy, Norgás strengthens Energisa Group's presence in the natural gas market, expanding its operations and contributing to the region's energy development. The DisCos jointly serve 267 consumer units in total.

8.2 Summary of direct and indirect interests

Local Piped Gas Distribution Companies (CDL)	Interest (%)
		Norgás(1)	EDG	Energisa(2)
Es Gás		-	100(1)	100
Norgás	Copergás	41.5	50.5(2)	21.0
	Cegás	29.4	50.5(2)	14.8
	Algás	29.4	50.5(2)	14.8
	Potigás	83.0	50.5(2)	41.9

The interests shown in the table are direct (1) or indirect (2).

8.3 Financial Information

The equity income result, presented below for each CDL, reflects the contribution of the subsidiaries to Energisa Group's consolidated performance.

The amounts cover the period from December 2025 to February 2026 for 1Q26, and from December 2024 to February 2025 for 1Q25, showing the growth in the investees' results throughout the year.

Equity income by CDL Amounts in R$ millions	1Q26	1Q25	Change %	Change R$
Copergás	25	18	39%	+ 7.0
Cegás	7	5	37%	+ 2.0
Algás	2	5	-61%	- 3.0
Potigás	6	3	88%	+ 3.0
Total	39	31	29%	+ 8.0

| Description
Amounts in R$ million | ES GÁS | | | | NÓRGÁS (1) | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| | Quarter | | | | Quarter | | | |
| | 1Q26 | 1Q25 | Change % | Change R$ | 1T26(2) | 1Q25 | Change % | Change R$ |
| Net revenue(3) | 137 | 157 | - 12.9 | - 20.0 | 598 | 699 | - 14.5 | - 101.0 |
| Gross Margin | 74 | 58 | + 28.9 | + 16.0 | 156 | 136 | + 14.7 | + 20.0 |
| PMSO | 17 | 18 | - 7.5 | - 1.0 | 79 | 67 | + 17.9 | - 12.0 |
| EBITDA | 58 | 39 | + 48.7 | + 19.0 | 116 | 84 | + 38.1 | 31.9 |
| Finance income/loss | (20) | (22) | - 7.9 | + 2.0 | 8 | 16 | - 49.1 | - 8.0 |
| Net income/loss | 13 | (0.1) | - | + 13.1 | 102 | 76 | + 34.1 | + 26.0 |
| Investments | 17 | 17 | - 1.8 | + 0.0 | 51 | 63 | - 18.9 | - 11.8 |

(1) The amounts are not proportional to Energisa's share and correspond to 100% of CDL's results.
(2) The result refers to the period from December 2025 to February 2026 for the quarter.
(3) Net revenue, without construction revenue

Es Gás Highlights:

• Gross Margin increased 28.9% in 1Q26, totaling R$ 74 million. This variation was mainly driven by the increase in volume (+12.6%) and by the adjustment of the average distribution margin in the Ordinary Tariff Review to BRL 0.4702/m³, effective as of August 2025, which will enable the Company's Expansion Plan.
• ES Gás ended the second quarter of 2025 with a total of 96,186 consumer units, an increase of 11.5% on the previous year. The result reflects the continued efforts to expand the customer base and strengthen market presence.
• The total volume of natural gas distributed reached 164,661,000 m³, up 12.1% on the same period last year. The result was mainly driven by growth in the residential (15.2%), commercial (+13.0%), and industrial (+13.5%) segments.

Norgás Highlights:

• In 1Q26, Norgás' natural gas distributors showed significant improvement in gross margin (+14.7%), with heterogeneous performance among the concession operators:

• Copergás recorded growth of 38% with gross margin of R$ 78.9 million, benefiting from a 35% increase in distributed volume, especially in the unregulated segment.

• Cegás achieved gross margin of R$ 39 million (+88%), resulting from a 22% decrease in biomethane costs and the positive effect of the reversal of provisions for legal contingencies of R$ 28.4 million.
• Potigás posted gross margin of R$ 20 million (+22%), a recovery supported by the new approved regulatory margin and 15% growth in total volume.
• Algás faced gross margin contraction to R$ 23 million (-27%), reflecting a 40% reduction in distributed volume, particularly in the industrial segment, which was not fully offset by cost reductions.

For detailed information on the companies, please refer to the links below.

• Es Gás: See the information here
• Norgás: See the release here

9. FOLLOWING UP ON THE COMPANY'S PROJECTIONS

Comment on the Performance of Individual and Consolidated Corporate Projections

Pursuant to article 21 (4) of CVM Resolution no. 80/22, see below the comparisons of the projections disclosed by the Company with the actual performance data until 1Q26:

(i) Projections of the commitments related to business sustainability, addressing environmental, social and governance ("ESG") matters the Company disclosed to the market on June 29, 2022, having surpassed 2 of the 3 commitments:

Item	Unit	Projection through the period ended December 31, 2026	Accumulated through March 30, 2026
Clean and affordable electricity for remote concession areas	no. of consumer units	55,000	57,335
Decommissioning and deactivating thermal power plants	MW	171.7	195(a)
Installing renewable energy capacity	GW	0.6	0.545

(a) In 2024, we successfully completed the scheduled decommissioning of all thermal power plants in the Legal Amazon, two years ahead of the original commitment set for 2026.

(ii) Greater participation of other business lines in Consolidated EBITDA, disclosed to the market on November 21, 2022:

Item	Unit	Projection through the period ended December 31, 2026	Accumulated through March 30, 2026 (a)
Participation of other Company business lines in addition to electricity distribution in Consolidated EBITDA	% of Consolidated EBITDA	Up to 25	19.2

(b) Includes Adjusted EBITDA Covenant 12 months

(iii) Estimated investment disclosed to the market on December 19, 2022:

Item	Unit	Projection through the period ended December 31, 2026	Accumulated through March 30, 2026
Estimate investment	R$ billion	24.0	27.5

10. SUBSEQUENT EVENTS

10.1 Rate tiers

ANEEL decided to trigger the Green Tier for electricity DisCos in April and May 2026, after analyzing the hydrological situation in Brazil.

10.2 Rate Adjustments

(1) By way of Ratifying Resolution 3.581 issued April 22, 2026, ANEEL approved the subsidiary EMT's rate adjustment effective from April 23, 2026, with an average rate increase to be felt by consumers of 6.86%.

(2) By way of Ratifying Resolution 3.582 issued April 22, 2026, ANEEL approved the subsidiary EMS' rate adjustment effective from April 23, 2026, with an average rate increase to be felt by consumers of 12.11%.

(3) By way of Ratifying Resolution 3.575 issued April 22, 2026, ANEEL approved the subsidiary ESE's rate adjustment effective from April 23, 2026, with an average rate increase to be felt by consumers of 6.86%.

10.3 Signing of a memorandum of understanding for the subscription and payment of Denerge shares by Itaú Unibanco.

On April 22, 2026, the Company published a material fact notice regarding the execution of a non-binding memorandum of understanding ("MoU") with Itaú Unibanco S.A. ("Itaú"), setting out the main general terms and conditions for the subscription and payment, by Itaú, of all preferred shares issued by Denerge at an estimated value of BRL 1,400,000,000 (one billion and four hundred million reais). Following the acquisition, Itaú will hold a direct minority interest in Denerge's share capital and an indirect interest in its subsidiaries, including Rede Energia, EMS, ESS, and EMT. The Transaction is subject to the satisfaction (or waiver, as applicable) of certain conditions precedent set forth in the MoU, including approval by the Administrative Council for Economic Defense ("CADE").

10.4 Dividend payments – subsidiaries

On May 11, 2026, the Management of the subsidiaries approved the distribution of dividends based on the profit for the period ended March 31, 2026 for Energisa Acre ("EAC") and Nova Denerge, and based on the retained earnings reserve account for Denerge, as shown below:

Subsidiary	Dividend Amount (BRL)	Dividend per Share (BRL)	Share Type	Payment Date
Energisa Acre	23,732,071.79	0.018193504	ON	as of 05/12/2026
Denerge	55,000,000.00	70.826180962	ON	as of 05/12/2026
Nova Denerge	117,778,598.38	0.046009668	ON	as of 05/12/2026

10.5 Signing of Concession Extension Amendments

On May 8, 2026, the Company concluded the signing of the Amendments for the Extension of Concessions for the following energy distributors. These extensions were granted without any additional burden for a period of 30 years, in compliance with Law No. 9,074 of July 7, 1995:

Energisa Sergipe – Distribuidora de Energia S.A. (ESE)
CNPJ/MF n° 13.017.462/0001-60
Term: December 23, 2027, to December 23, 2057
The concession serves approximately 0.9 million customers across 63 municipalities, covering an area of 17,000 km².

Energisa Paraíba – Distribuidora de Energia S.A. (EPB)
CNPJ/MF n° 09.095.183/0001-40
Term: March 21, 2031, to March 21, 2061

The concession serves approximately 2.0 million customers across 222 municipalities, covering an area of 54,000 km².

Energisa Mato Grosso do Sul – Distribuidora de Energia S.A. (EMS)

CNPJ/MF n° 15.413.826/0001-50
Term: December 4, 2027, to December 4, 2057
The concession serves approximately 1.2 million customers across 74 municipalities, covering an area of 328,000 km².

Energisa Mato Grosso – Distribuidora de Energia S.A. (EMT)

CNPJ/MF n° 03.467.321/0001-99
Term: December 11, 2027, to December 11, 2057
The concession serves approximately 1.7 million customers across 142 municipalities, covering an area of 903,000 km².

All concessionaires demonstrate adequate service quality indicators and financial soundness consistent with the criteria required by the Granting Authorit.

Management

ENERGISA GROUP
38

APPENDIX I - FINANCIAL STATEMENTS

1. Statement of Financial Position - Assets - Individual

Account Code	Account Description	Amount Current Quarter	Prior Year Amount
1	Total Assets	33.461.222	33.042.568
1.01	Current Assets	4.223.847	4.178.375
1.01.01	Cash and Cash Equivalents	362.556	352.524
1.01.02	Short-term investments	3.578.723	3.443.285
1.01.02.01	Short-term investments measured at fair value through profit or loss	3.578.723	3.443.285
1.01.02.01.03	Money market and Secured funds	3.578.723	3.443.285
1.01.03	Accounts Receivable	73.185	77.271
1.01.03.01	Receivables	73.160	77.246
1.01.03.01.01	Receivables	73.160	77.246
1.01.03.02	Other Accounts Receivable	25	25
1.01.03.02.01	Credit receivables	25	25
1.01.04	Inventory	232	234
1.01.06	Recoverable taxes	134.193	128.972
1.01.06.01	Recoverable current taxes	134.193	128.972
1.01.08	Other Current Assets	74.958	176.089
1.01.08.03	Other	74.958	176.089
1.01.08.03.01	Dividends and interest on equity receivable	24.426	127.429
1.01.08.03.04	Other accounts receivable	50.532	48.660
1.02	Noncurrent Assets	29.237.375	28.864.193
1.02.01	Long-Term Assets	6.656.551	6.506.142
1.02.01.01	Short-term investments measured at fair value through profit or loss	5.581.116	5.500.834
1.02.01.01.01	Designated at fair value	5.581.116	5.500.834
1.02.01.09	Related-party credits	398.394	382.033
1.02.01.09.02	Credit with Subsidiaries	398.394	382.033
1.02.01.10	Other Noncurrent Assets	677.041	623.275
1.02.01.10.04	Judicial deposits	8.833	8.680
1.02.01.10.06	Recoverable taxes	225.965	225.463
1.02.01.10.07	Financial instruments and risk management	241.510	188.183
1.02.01.10.08	Other accounts receivable	200.733	200.949
1.02.02	Investment	22.329.290	22.098.814
1.02.02.01	Equity Interests	22.329.290	22.098.814
1.02.02.01.02	Interests in Subsidiaries	22.171.118	21.942.973
1.02.02.01.04	Other Investments	158.172	155.841
1.02.03	Property, plant and equipment	133.970	127.921
1.02.03.01	Property, plant and equipment in operation	133.970	127.921
1.02.04	Intangible assets	117.564	131.316
1.02.04.01	Intangible assets	117.564	131.316
1.02.04.01.02	Intangible assets	117.564	131.316

ENERGISA GROUP
3

1. Statement of Financial Position - Liabilities - Individual

Account Code	Account Description	Amount Current Quarter	Prior Year Amount
2	Total Liabilities	33.461.222	33.042.568
2.01	Current Liabilities	1.863.175	1.823.538
2.01.02	Trade payables	7.867	51.013
2.01.02.01	Domestic Trade Payables	7.867	51.013
2.01.04	Loans and Borrowings	1.499.020	1.465.277
2.01.04.01	Loans and Borrowings	434.934	248.141
2.01.04.01.01	In local currency	199.939	0
2.01.04.01.02	In foreign currency	234.995	248.141
2.01.04.02	Debentures	1.064.086	1.217.136
2.01.05	Other Liabilities	356.288	307.248
2.01.05.02	Other	356.288	307.248
2.01.05.02.01	Dividends and interest on equity payable	4.839	4.843
2.01.05.02.04	Debt charges	193.880	176.207
2.01.05.02.05	Estimated obligations	30.238	28.144
2.01.05.02.06	Post-employment benefits	1.645	1.645
2.01.05.02.07	Taxes and Social Contributions	23.212	25.120
2.01.05.02.08	Financial instruments and risk management	35.361	16.821
2.01.05.02.10	Operating leases	1.265	945
2.01.05.02.11	Other Liabilities	65.848	53.523
2.02	Noncurrent Liabilities	11.943.853	12.020.611
2.02.01	Loans and Borrowings	10.826.743	11.267.136
2.02.01.01	Loans and Borrowings	0	199.939
2.02.01.01.01	In local currency	0	199.939
2.02.01.02	Debentures	10.826.743	11.067.197
2.02.02	Other Liabilities	779.808	428.715
2.02.02.02	Other	779.808	428.715
2.02.02.02.05	Post-employment benefits	12.666	12.255
2.02.02.02.06	Financial instruments and risk management	740.551	390.787
2.02.02.02.07	Trade payables	6.575	6.881
2.02.02.02.10	Operating Leases	2.533	2.777
2.02.02.02.11	Taxes and social contributions	8.402	6.930
2.02.02.02.12	Other Liabilities	9.081	9.085
2.02.03	Deferred Taxes	336.840	324.193
2.02.03.01	Deferred Income and Social Contribution Taxes	336.840	324.193
2.02.04	Provisions	462	567
2.02.04.01	Tax, Welfare, Labor and Civil Contingencies	462	567
2.03	Equity	19.654.194	19.198.419
2.03.01	Paid-in Capital	10.876.550	10.876.550
2.03.02	Capital Reserves	2.463.911	2.473.271
2.03.02.07	Stock issuance cost	(109.447)	(109.447)
2.03.02.08	Other Capital Reserves	2.573.358	2.582.718
2.03.04	Profit Reserves	5.891.267	5.891.267
2.03.04.01	Legal Reserve	945.657	945.657
2.03.04.05	Profit Retention Reserve	4.945.610	4.945.610
2.03.05	Retained earnings/Accumulated losses	465.627	0
2.03.08	Other Comprehensive Income	(43.161)	(42.669)

ENERGISA GROUP
48

1. Statements of Income - Individual

Account Code	Account Description	Accumulated Amount Current Year	Accumulated Amount Prior Year
3.01	Revenue from Goods and/or Services Sold	94.424	90.578
3.02	Cost of Goods and/or Services Sold	(69.290)	(64.704)
3.02.01	Personnel and management	(54.588)	(49.802)
3.02.02	Post-employment benefits	4	(203)
3.02.03	Material	(621)	(395)
3.02.04	Outsourced services	(5.297)	(8.036)
3.02.05	Amortization and depreciation	(8.553)	(5.574)
3.02.06	Other	(235)	(694)
3.03	Gross Profit	25.134	25.874
3.04	Operating Income/Expenses	522.203	771.893
3.04.02	General and Administrative Expenses	(30.802)	(38.185)
3.04.02.02	Personnel and management	(14.707)	(16.368)
3.04.02.03	Post-employment benefits	(1.471)	(1.411)
3.04.02.04	Material	(270)	(526)
3.04.02.05	Outsourced services	(9.192)	(10.208)
3.04.02.06	Amortization and depreciation	(2.423)	(3.172)
3.04.02.07	Provisions for labor, civil, tax and regulatory risks	68	0
3.04.02.08	Other	(2.807)	(6.500)
3.04.04	Other Operating Revenue	47	67
3.04.04.02	Other revenue	47	67
3.04.05	Other Operating Expenses	0	(19)
3.04.05.02	Loss on the Disposal of Assets and Rights	0	(19)
3.04.06	Share of profit (loss) of equity-accounted investees	552.958	810.030
3.05	Profit/loss before Finance Income/Loss and Tax	547.337	797.767
3.06	Finance income/loss	(68.993)	16.160
3.06.01	Finance Revenue	349.574	263.268
3.06.01.01	Revenue on short-term investments	272.434	254.791
3.06.01.02	Restatement of loans	16.337	15.388
3.06.01.03	Endorsement revenue	55.793	0
3.06.01.04	Taxes on finance revenue	(19.043)	(12.248)
3.06.01.05	Restatement of Judicial Deposits	105	67
3.06.01.06	Other finance revenue	23.948	5.270
3.06.02	Finance Costs	(418.567)	(247.108)
3.06.02.01	Debt charges - interest	(340.931)	(270.932)
3.06.02.02	Mark-to-market of derivatives	(281.881)	224.743
3.06.02.03	Financial instruments and risk management	(36.166)	5.085
3.06.02.04	Monetary and exchange variance on debt	(88.486)	(132.551)
3.06.02.05	Bank expenses	(1.404)	(1.070)
3.06.02.08	Restatements of contingencies	37	(16)
3.06.02.09	Mark-to-market of debt securities	335.314	(70.866)
3.06.02.11	Other finance costs	(5.050)	(1.501)
3.07	Earnings before Tax on Profit	478.344	813.927
3.08	Income and Social Contribution Taxes on Profit	(12.717)	(38.191)
3.08.02	Deferred charges	(12.717)	(38.191)
3.09	Net earnings from Continuing Operations	465.627	775.736
3.11	Net Income/Loss for the Period	465.627	775.736
3.99	Earnings per share - (Reais / Share)	0.0000000000	0.0000000000
3.99.01	Basic Earnings per Share	0.0000000000	0.0000000000
3.99.01.01	Common	0.1900000000	0.3400000000
3.99.01.02	Preferred	0.1900000000	0.3400000000
3.99.02	Diluted Earnings per Share	0.0000000000	0.0000000000
3.99.02.01	Common	0.1800000000	0.3400000000
3.99.02.02	Preferred	0.1800000000	0.3400000000

ENERGISA GROUP
4

GROUP ENERGISA

1. Statement of Comprehensive Income - Individual

Account Code	Account Description	Accumulated Amount Current Year	Accumulated Amount Prior Year
4.01	Net Income for the Period	465.627	775.736
4.02	Other Comprehensive Income	-492	477
4.02.02	Other Comprehensive Income	-492	477
4.03	Comprehensive Income for the Period	465.135	776.213

1. Statement of cash flows - Individual

2. Statement of Added Value - DVA - Individual

GROUP

energisa

7. Statements of Changes in Equity - - 01/01/2026 à 03/31/2026- Individual

Account Code	Account Description	Paid-in share capital	Capital Reserves, Options Awarded and Treasury Stock	Profit Reserves	Retained Earnings or Accumulated Losses	Other Comprehensive Income	Equity
5.01	Opening Balances	10.876.550	2.473.271	5.891.267	0	(42.669)	19.198.419
5.03	Adjusted opening balance	10.876.550	2.473.271	5.891.267	0	(42.669)	19.198.419
5.04	Capital Transactions with Shareholders	0	(9.360)	0	0	0	(9.360)
5.04.08	Variable compensation program (ILP)	0	6.541	0	0	0	6.541
5.04.09	Transactions with investments	0	(15.901)	0	0	0	(15.901)
5.05	Total Comprehensive Income	0	0	0	465.627	(492)	465.135
5.05.01	Net Income for the Period	0	0	0	465.627	0	465.627
5.05.02	Other Comprehensive Income	0	0	0	0	(492)	(492)
5.07	Closing Balances	10.876.550	2.463.911	5.891.267	465.627	(43.161)	19.654.194

8. Statements of Changes in Equity - - 01/01/2025 à 03/31/2025- Individual

Account Code	Account Description	Paid-in share capital	Capital Reserves, Options Awarded and Treasury Stock	Profit Reserves	Retained Earnings or Accumulated Losses	Other Comprehensive Income	Equity
5.01	Opening Balances	7.540.743	1.024.657	8.781.383	0	(67.285)	17.279.498
5.03	Adjusted opening balance	7.540.743	1.024.657	8.781.383	0	(67.285)	17.279.498
5.04	Capital Transactions with Shareholders	0	2.526	(68.940)	0	0	(66.414)
5.04.09	Payment of additional proposed dividends	0	0	(63.639)	0	0	(63.639)
5.04.10	Variable compensation program (ILP)	0	4.440	0	0	0	4.440
5.04.11	Transactions with investments	0	(1.914)	(5.301)	0	0	(7.215)
5.05	Total Comprehensive Income	0	0	0	775.736	477	776.213
5.05.01	Net Income for the Period	0	0	0	775.736	0	775.736
5.05.02	Other Comprehensive Income	0	0	0	0	477	477
5.07	Closing Balances	7.540.743	1.027.183	8.712.443	775.736	(66.808)	17.989.297

1. Statement of Financial Position - Assets - Consolidated

Account Code	Account Description	Amount Current Quarter	Prior Year Amount
1	Total Assets	86,720,883	83,471,647
1.01	Current Assets	22,884,170	20,931,903
1.01.01	Cash and Cash Equivalents	1,140,421	1,386,005
1.01.02	Short-term investments	10,655,635	9,087,240
1.01.02.01	Short-term investments measured at fair value through profit or loss	10,655,635	9,087,240
1.01.02.01.03	Short-term investments measured at fair value through profit or loss	10,655,635	9,087,240
1.01.03	Accounts Receivable	4,617,334	4,775,498
1.01.03.01	Receivables	4,610,348	4,771,318
1.01.03.01.01	Clients, consumers, concession operators and other	4,610,348	4,771,318
1.01.03.02	Other Accounts Receivable	6,986	4,180
1.01.03.02.01	Credit receivables	6,986	4,180
1.01.04	Inventory	162,673	155,560
1.01.06	Recoverable taxes	1,964,547	1,856,382
1.01.06.01	Recoverable current taxes	1,964,547	1,856,382
1.01.08	Other Current Assets	4,343,560	3,671,218
1.01.08.01	Noncurrent Assets for Sale	26,698	23,911
1.01.08.01.03	Dividends receivable	26,698	23,911
1.01.08.03	Other	4,316,862	3,647,307
1.01.08.03.01	Financial instruments and risk management	110,570	117,256
1.01.08.03.02	Sector financial assets	1,470,840	823,745
1.01.08.03.03	Public service concession- contract asset	856,233	835,515
1.01.08.03.05	Other accounts receivable	1,879,219	1,870,791
1.02	Noncurrent Assets	63,836,713	62,539,744
1.02.01	Long-Term Assets	37,384,381	36,313,976
1.02.01.01	Short-term investments measured at fair value through profit or loss	523,775	474,846
1.02.01.01.01	Designated at fair value	523,775	474,846
1.02.01.04	Accounts Receivable	422,126	423,422
1.02.01.04.01	Clients, Consumers and Concession Operators	422,126	423,422
1.02.01.10	Other Noncurrent Assets	36,438,480	35,415,708
1.02.01.10.03	Credit receivables	6,420	6,504
1.02.01.10.04	Recoverable taxes	2,187,098	2,282,406
1.02.01.10.05	Tax credits	3,224,318	2,835,091
1.02.01.10.06	Judicial deposits	1,951,822	1,887,119
1.02.01.10.07	Financial instruments and risk management	610,569	791,114
1.02.01.10.08	Concession financial asset	18,716,426	17,715,205
1.02.01.10.09	Sector financial assets	605,696	892,356
1.02.01.10.10	Public service concession- contract asset	8,634,014	8,533,182
1.02.01.10.11	Other accounts receivable	502,117	472,731
1.02.02	Investment	744,702	716,875
1.02.02.01	Equity Interests	744,702	716,875
1.02.02.01.04	Interests in Joint Ventures	744,702	716,875
1.02.03	Property, plant and equipment	3,443,076	3,407,304
1.02.03.01	Property, plant and equipment in operation	3,443,076	3,407,304
1.02.04	Intangible assets	22,264,554	22,101,589
1.02.04.01	Intangible assets	22,264,554	22,101,589
1.02.04.01.03	Contractual Asset - Infrastructure under construction	3,151,753	2,824,749
1.02.04.01.04	Intangible assets	19,112,801	19,276,840

1. Statement of Financial Position - Liabilities - Consolidated

Account Code	Account Description	Amount Current Quarter	Prior Year Amount
2	Total Liabilities	86,720,883	83,471,647
2.01	Current Liabilities	13,049,603	13,448,826
2.01.02	Trade payables	3,018,468	2,892,486
2.01.02.01	Domestic Trade Payables	3,018,468	2,892,486
2.01.04	Loans and Borrowings	5,623,410	6,193,651
2.01.04.01	Loans and Borrowings	3,222,595	3,743,886
2.01.04.01.01	In local currency	1,041,795	825,930
2.01.04.01.02	In foreign currency	2,180,800	2,917,956
2.01.04.02	Debentures	2,400,815	2,449,765
2.01.05	Other Liabilities	4,407,725	4,362,689
2.01.05.02	Other	4,407,725	4,362,689
2.01.05.02.01	Dividends and interest on equity payable	30,859	26,048
2.01.05.02.04	Financing of taxes	252	378
2.01.05.02.05	Estimated obligations	211,901	189,013
2.01.05.02.07	Public lighting fee	147,999	148,851
2.01.05.02.08	Post-employment benefits	19,636	19,635
2.01.05.02.09	Debt charges	405,999	333,662
2.01.05.02.10	Sector charges	403,623	394,691
2.01.05.02.11	Taxes and Social Contributions	894,839	778,849
2.01.05.02.12	Sector financial liabilities	316,226	753,235
2.01.05.02.15	Effects of reducing ICMS in the PIS and Cofins calculation base	347,483	275,505
2.01.05.02.16	Incorporation of grids	248,304	248,222
2.01.05.02.18	Financial instruments and risk management	669,424	571,379
2.01.05.02.19	Operating leases	36,820	27,244
2.01.05.02.20	Other liabilities	674,360	595,977
2.02	Noncurrent Liabilities	52,035,762	48,838,277
2.02.01	Loans and Borrowings	39,964,812	38,369,066
2.02.01.01	Loans and Borrowings	12,079,356	12,291,082
2.02.01.01.01	In local currency	9,278,309	9,416,417
2.02.01.01.02	In foreign currency	2,801,047	2,874,665
2.02.01.02	Debentures	27,885,456	26,077,984
2.02.02	Other Liabilities	4,823,088	3,701,587
2.02.02.02	Other	4,823,088	3,701,587
2.02.02.02.03	Trade payables	138,109	165,764
2.02.02.02.04	Financial instruments and risk management	1,810,262	660,128
2.02.02.02.05	Taxes and social contributions	973,701	956,449
2.02.02.02.07	Post-employment benefits	163,360	157,326
2.02.02.02.11	Sector financial liabilities	589,595	546,999
2.02.02.02.13	Sector charges	144,072	127,401
2.02.02.02.15	Operating leases	114,242	120,869
2.02.02.02.16	Effects of reducing ICMS in the PIS and Cofins calculation base	325,013	404,105
2.02.02.02.17	Other Liabilities	564,734	562,546
2.02.03	Deferred Taxes	5,592,155	5,141,593
2.02.03.01	Deferred Income and Social Contribution Taxes	5,592,155	5,141,593
2.02.04	Provisions	1,655,707	1,626,031
2.02.04.01	Tax, Welfare, Labor and Civil Contingencies	1,655,707	1,626,031
2.03	Consolidated Equity	21,635,518	21,184,544
2.03.01	Capital Stock	10,876,550	10,876,550
2.03.02	Capital Reserves	2,463,911	2,473,271
2.03.02.07	Share issuance costs	(109,447)	(109,447)
2.03.02.08	Other Capital Reserves	2,573,358	2,582,718
2.03.04	Profit Reserves	5,891,267	5,891,267
2.03.04.01	Legal Reserve	945,657	945,657
2.03.04.05	Profit Retention Reserve	4,945,610	4,945,610
2.03.05	Retained earnings/Accumulated losses	465,627	0
2.03.08	Other Comprehensive Income	(43,161)	(42,669)
2.03.09	NCI	1,981,324	1,986,125

OPOPONERGISA

11. Statements of Income - Consolidated

1. Statement of Comprehensive Income - Consolidated

2. Statement of cash flows - Consolidated

3. Statement of Added Value - DVA - Consolidated

ENERGISA GROUP
28

GROUP

1. Statements of Changes in Equity - 01/01/2026 à 03/31/2026 - Consolidated

Account Code	Account Description	Paid-in share capital	Capital Reserves Awarded in Treasury Stock	Profit Reserves	Retained Earnings or Accumulated Losses	Other Comprehensive Income	Equity	Noncontrolling interest	Consolidated Equity
5.01	Opening Balances	10.876.550	2.473.271	5.891.267	0	(42.669)	19.198.419	1.986.125	21.184.544
5.03	Adjusted opening balance	10.876.550	2.473.271	5.891.267	0	(42.669)	19.198.419	1.986.125	21.184.544
5.04	Capital Transactions with Shareholders	0	(9.360)	0	0	0	(9.360)	(113.943)	(123.303)
5.04.08	Variable compensation program (ILP)	0	6.541	0	0	0	6.541	510	7.051
5.04.09	Transactions with investments	0	(15.901)	0	0	0	(15.901)	23.479	7.578
5.04.11	Payment of additional proposed dividends	0	0	0	0	0	0	(137.932)	(137.932)
5.05	Total Comprehensive Income	0	0	0	465.627	(492)	465.135	109.142	574.277
5.05.01	Net Income for the Period	0	0	0	465.627	0	465.627	109.143	574.770
5.05.02	Other Comprehensive Income	0	0	0	0	(492)	(492)	(1)	(493)
5.07	Closing Balances	10.876.550	2.463.911	5.891.267	465.627	(43.161)	19.654.194	1.981.324	21.635.518

1. Statements of Changes in Equity - 01/01/2025 à 03/31/2025 - Consolidated

Account Code	Account Description	Paid-in share capital	Capital Reserves Awarded in Treasury Stock	Profit Reserves	Retained Earnings or Accumulated Losses	Other Comprehensive Income	Equity	Noncontrolling interest	Consolidated Equity
5.01	Opening Balances	7.540.743	1.024.657	8.781.383	0	(67.285)	17.279.498	4.863.724	22.143.222
5.03	Adjusted opening balance	7.540.743	1.024.657	8.781.383	0	(67.285)	17.279.498	4.863.724	22.143.222
5.04	Capital Transactions with Shareholders	0	2.526	(68.940)	0	0	(66.414)	(274.989)	(341.403)
5.04.09	Variable compensation program (ILP)	0	4.440	0	0	0	4.440	783	5.223
5.04.10	Transactions with investments	0	(1.914)	(5.301)	0	0	(7.215)	(3.058)	(10.273)
5.04.11	Payment of additional proposed dividends	0	0	(63.639)	0	0	(63.639)	(272.714)	(336.353)
5.05	Total Comprehensive Income	0	0	0	775.736	477	776.213	250.980	1.027.193
5.05.01	Net Income for the Period	0	0	0	775.736	0	775.736	250.979	1.026.715
5.05.02	Other Comprehensive Income	0	0	0	0	477	477	1	478
5.07	Closing Balances	7.540.743	1.027.183	8.712.443	775.736	(66.808)	17.989.297	4.839.715	22.829.012

Notes to the financial statements

Energisa S/A

Notes to the interim financial information (quarterly information) for the period ended March 31, 2026

(In thousands of Reais, unless stated otherwise).

1. Reporting entity

With its head office in Cataguases, Minas Gerais state, Energisa S/A ("Energisa" or "Company") is a publicly traded company listed on the São Paulo Stock Exchange (B3 SA Brasil Bolsa Balcão). The Company's core activity is being a holding company, providing administrative services to its electricity distribution, transmission, generation and trading subsidiaries and energy trader and other direct and indirect subsidiaries.

Activities:

By way of its direct and indirect subsidiaries, Energisa holds the right to operate electricity distribution, transmission, generation and sale concessions and the piped gas distribution concession.

Electricity distribution:

Subsidiaries	Locations	Concession date	Date of maturity
Direct subsidiaries:
Energisa Minas Rio – Distribuidora de Energia S/A ("EMR")	Cataguases (MG)	07/07/2015	07/07/2045
Energisa Sergipe Distribuidora de Energia S/A ("ESE")	Aracaju (SE)	12/23/1997	12/23/2027
Energisa Rondônia – Distribuidora de Energia S/A ("ERO")	Porto Velho (RO)	10/30/2018	10/29/2048
Energisa Acre – Distribuidora de Energia S/A ("EAC")	Rio Branco (AC)	12/07/2018	12/06/2048
Indirect subsidiaries:
Energisa Mato Grosso – Distribuidora de Energia ("EMT")	Cuiabá (MT)	12/11/1997	12/10/2027
Energisa Mato Grosso do Sul – Distribuidora de Energia S/A ("EMS")	Campo Grande (MS)	12/04/1997	12/04/2027
Energisa Sul Sudeste – Distribuidora de Energia S/A ("ESS")	Presidente Prudente (SP)	07/07/2015	07/07/2045
Energisa Tocantins – Distribuidora de Energia S/A ("ETO")	Palmas (TO)	01/01/2020	12/31/2049
Energisa Paraíba – Distribuidora de Energia S/A ("EPB")	João Pessoa (PB)	03/21/2001	03/21/2031

The direct and indirect distribution subsidiaries are privately and publicly held companies, with the core activities of operating and maintaining facilities in order to ensure the continuity and efficiency of the electricity distribution services through the use of distribution lines and grids in their operating areas.

Electricity transmission:

The electricity transmission indirect subsidiaries were founded to build, operate and maintain electricity transmission facilities.

Subsidiaries	Description	Site	Concession date	Date of maturity	Start of Operation
Energisa Goiás Transmissora de Energia I S/A ("EGO I")	230 kV Rio Verde Norte – Jataí transmission line, with 136 kilometers in a dual electricity circuit, and the Rio Verde Norte substation. The works were completed 31 months after the award date and the operation began 17 months ahead of the operational start-up date established in the concession agreement.	Goiás	08/11/2017	08/11/2047	03/14/2020
Energisa Pará Transmissora de Energia I S/A ("EPA I")	230 kV Xinguara II – Santana do Araguaia transmission line, with 296 kilometers in a dual electricity circuit, and the Santana do Araguaia substation. The works were completed 38 months after the award date and the operation began 16 months before the operational start-up date established in the concession agreement.	Pará	08/11/2017	08/11/2047	11/02/2020

Subsidiaries	Description	Site	Concession date	Date of maturity	Start of Operation
Energisa Pará Transmissora de Energia II S/A ("EPA II")	500 kV, 66.5 km Serra Pelada Transmission Line in a dual electricity circuit, the 230 kV, 72.3 km Integradora Sossego - Xinguara II Transmission Line, and the Serra Pelada and Integradora Sossego substations. The works were completed 39 months after the award date and the operation began 12 months before the operational start-up date established in the concession agreement.	Pará	09/21/2018	09/21/2048	12/21/2021
Energisa Tocantins Transmissora de Energia S/A ("ETT")	255-km, 230-kV Dianápolis II - Barreiras II Transmission Line; 256-Km, 230-kV Dianápolis II - Gurupi Transmission Line and 261-km, 230-kV Dianápolis II - Palmas Transmission Line.	Bahia and Tocantins	03/22/2019	03/22/2049	Função I and II 12/22/2022 and Função III 01/26/2023
Linhas de Macapá Transmissora de Energia S/A ("LMTE")	500 kV Jurupari - Oriximiná TL; 230 kV Jurupari - Laranjal TL; 230 kV Laranjal - Macapá TL; 500/138 kV Oriximiná 200 MVA SE; 230/69 kV Laranjal 200 MVA SE; 230/69 kV Macapá 600 MVA SE.	Pará/Amapá	10/16/2008	10/16/2038	06/12/2013
Linhas de Xingu Transmissora de Energia S/A ("LXTE")	500 kV Tucuruí - Xingu TL; 500 kV Xingu - Jurupari TL; 500 kV Xingu SE; 500 kV Tucuruí SE; 500/230 kV Jurupari 1,500 MVA SE.	Pará	10/16/2008	10/16/2038	06/12/2013
Linhas de Taubaté Transmissora de Energia S/A ("LTTE")	500 kV Taubaté - Nova Iguaçu TL; 500 kV Taubaté SE; 500 kV Nova Iguaçu 4,200 MVA SE.	São Paulo/Rio de Janeiro	12/09/2011	12/09/2041	06/01/2018
Energisa Paranaíta Transmissora de Energia S/A ("EPTE")	Paranaíta SE, 500/138 kV, 3 x 50 MVA	Mato Grosso	06/27/2016	06/27/2046	06/27/2019
Energisa Amazonas Transmissora de Energia S/A ("EAM")	- Incorporation of service assets assigned to AmGT under MME Ordinance 706 (December 15, 2016); - Revitalization of the Manaus, Cristiano Rocha and Lechuga 230 kV substations (a sector assigned to AmGT); - Replacement of the Balbina 230kV breaker-and-a-half substation with a new 230kV substation with a double-bus, 4-breaker arrangement; - Replacement of the Manaus 69kV substation ring configuration with a new 69kV DB4 configuration. Lechuga-Tarumã 230 kV transmission line, including a 9km overhead double-circuit section and a 3-km underground C1 and C2 section; - Tarumã 230/138 kV Substation: 6+1Res transformers x 100 MVA; Presidente Figueiredo 230/69 kV substation: 2 transformers x 50 MVA; - 230 kV transmission line sections between the Presidente Figueiredo substation and sectioning points of the Balbina-Cristiano Rocha transmission line, C1, with two 4.5 km circuits.	Amazonas	03/31/2021	03/31/2051	Under construction
Energisa Tocantins Transmissora de Energia II S/A ("ETT II")	Expansion of SE 230/138kV Gurupi - 200MVA	Tocantins	09/30/2021	09/30/2051	05/08/2024
Energisa Amapá Transmissora de Energia S/A ("EAP")	230kV Macapá - Macapá III C1 TL 230/69kV Macapá III SE Macapá 3 SE: Implementation of 2 simple 69 kV circuits, with an approximate length of 2 km each, between the sectioning points of the 69 kV distribution line Santana - Macapá C1 and the Macapá III substation, in the 69 kV sector. SE Macapá: New section of the 230 kV line, in a simple circuit, with a length of approximately 500 meters to enable the connection of the Ferreira Gomes - Macapá C1 230kV line.	Amapá	03/31/2022	03/31/2052	12/23/2024
Energisa Amazonas Transmissora de Energia II S/A ("EAM II")	230 kV, 12.9 km Mauá 3 - Manaus TL, C1, (overhead and underground sections). The estimated construction time frame is 48 months.	Amazonas	09/30/2022	09/30/2052	Under construction
Energisa Maranhão Transmissora Energia S/A ("EMA")	500 kV Teresina IV - Graça Aranha C1 TL, CS 500 kV Boa Esperança - Graça Aranha C1 TL, CS SE 500 kV Teresina; SE 500 kV Boa Esperança.	Maranhão	06/28/2024	06/28/2054	Under construction

3

Electricity generation:

Subsidiaries	Description	Activity	Site
Hydraulic Generation:
Energisa Geração Usina Maurício S/A
CGH Usina Hans	The CGH has an installed capacity of 298 KW and an average guaranteed capacity of 0.264 MW.	Hydraulic generation	Nova Friburgo (RJ)
Rio Vermelho SHP	The SHP has an installed capacity of 2,560 KW.	Hydraulic generation	Vilhena (RO)
Usina Maurício	The Plant has an installed capacity of 1,280 KW.	Hydraulic generation	Leopoldina (MG)
Distributed Generation:
Alsol Energias Renováveis S/A ("Alsol")	The subsidiary has photovoltaic systems in operation connected to the grid and has projects under implementation, as well as equity interests in companies with the same purpose.	Distributed generation	Uberlândia (MG)
Solar Farm:
Energisa Geração Central Solar Rio do Peixe I		Solar Farm	Paraíba (PB)
EGCS-RP I
Energisa Geração Central Solar Rio do Peixe II	The subsidiaries were founded to develop and operate a solar power plant, and to sell the energy produced by the Venture.	Solar Farm	Paraíba (PB)
EGCS-RP I
Energisa Geração Central Solar Coremas S/A EGCS-CO		Solar Farm	Cataguases (MG)
Wind Generation Project:
Complexo Parque Eólico Sobradinho
EOL Alecrim		Wind Farms	Sobradinho (BA)
EOL Umbuzeiro Muquim	Nonoperational subsidiaries with the core activity of wind farm installation projects.	Wind Farms	Sobradinho (BA)
EOL Mandacaru		Wind Farms	Sobradinho (BA)
EOL Boa Esperança		Wind Farms	Sobradinho (BA)
EOL Maravilha I to V		Wind Farms	Cataguases (MG)

Electricity trading:

Subsidiary	Description	Site	Authorization date
Energisa Comercializadora de Energia Ltda. ("ECOM")	Subsidiary that trades electricity in the free market and intermediates in energy transactions.	Rio de Janeiro (RJ)	03/21/2006

Services and Other:

Subsidiaries	Nature
Energisa Soluções S/A ("ESOL")	Operating and maintenance services and services related to electricity distribution generation, transmission, commission, preparation, remote and local operation and electrical and mechanical maintenance of plants, substations, transmission lines and facilities.
Energisa Soluções Construções e Serviços em Linhas e Redes S/A ("ESOLC")	Constructions, operations, maintenance and services related to generation, transmission and distribution of electricity.
Multi Energisa Serviços S/A ("MULTI")	Construction, operation, maintenance and services related to electricity distribution and generation, tele-services and personal services for electricity consumers.
Energisa Serviços Aéreos de Aeroinspeção S/A ("ESER")	Aerial surveying services (SAE), mainly supporting companies operating high-voltage lines, oil pipelines and reforestation engineering works.
Voltz Capital S/A	Offers financial products and optimizes payment systems and financial services through technological solutions.
Agric Adubos e Gestão de Resíduos Industriais e Comerciais Ltda	Provision of services for receiving and treating industrial organic waste for the production and sale of biofertilizer. The Company is in the final stage of constructing its biogas plant, whose core activity will be the treatment of industrial organic waste for the future generation and sale of biomethane.
Lurean S/A	Provision of services for receiving and treating industrial organic waste for the production and sale of biofertilizer. The Company is in the initial stage of constructing its biogas plant, whose core activity will be the treatment of industrial organic waste for the future generation and sale of biomethane.
Clarke Desenvolvimento de Software S/A	Development of computer systems and programs, licensing of non-customizable software, intermediation and brokerage of services and business, and business management consulting.

Piped gas distribution:

Subsidiary	Description	Site	Concession date	Date of maturity
Companhia de Gás do Espírito Santo ("ES GÁS")	This subsidiary holds the piped gas concession and is headquartered in the city of Vitória, Espírito Santo state, currently operating in the industrial, residential, commercial, air conditioning, automotive, thermoelectric and cogeneration segments.	Vitória (ES)	08/01/2020	08/01/2045
Energisa Distribuição de Gás S/A - "EDG" *	Through its investee Norgás S/A, the subsidiary EDG holds noncontrolling interests in the piped-gas public service concessions:
• ALGÁS - Gás de Alagoas S/A
• CEGÁS - Companhia de Gás do Ceará
• COPERGÁS - Companhia Pernambucana de Gás
• POTIGÁS - Companhia Potiguar de Gás	Alagoas
Ceará
Pernambuco
Rio Grande do Norte	09/17/1993
12/30/1993
11/05/1992
12/21/1994	09/17/2043
12/30/2043
11/05/2042
12/21/2044

*At the extraordinary general meeting held on December 19, 2025, the merger of EDGNE into Energisa Distribuição de Gás S.A. ("EDG") was approved, resulting in the dissolution of EDGNE, which will be universally succeeded by EDG in all its rights and obligations, pursuant to article 227 of Brazilian Corporation Law. EDGNE's assets and liabilities were transferred to the acquiring company at their respective carrying amounts, in accordance with the merger appraisal report issued by the appraisers.

Judicial Recovery of subsidiaries:

On November 26, 2012 the subsidiaries Denerge Desenvolvimento Energético S/A ("DENERGE"), Rede Energia Participações S/A ("REDE"), Companhia Técnica de Comercialização de Energia ("CTCE"), QMRA Participações S/A ("QMRA") and Empresa de Eletricidade Vale Paranapanema S/A ("EEVP"), subsequently merged into DENERGE, applied for Judicial Recovery ("RJ"). The recovery plan was duly performed in 2022, allowing it to be concluded and then filed.

The remaining balances of the debts qualified under the Judicial Recovery are recorded in the subsidiaries under the headings of Loans, Debentures, Trade Payables and Other payables and are net of the Adjustment to Present Value (PVA). A rate of 15.19% p.a. was used for discounting to present value. This rate is compatible with the nature, tenor and risk for similar transactions on market, economic and financial conditions in the transaction scenario. Company Management believes this discount rate adequately denotes the capital cost at the subsidiaries' acquisition date.

Description	REDE ENERGIA	DENERGE	CTCE	Total
Balance as of 12/31/2024	393,446	369,791	117,566	880,803
(+) Restatement	11,424	47,619	3,521	62,564
Reversal of adjustment to present value	48,205	17,289	16,009	81,503
(-) Payments	(4,456)	(31,689)	(961)	(37,106)
Balance as of 12/31/2025	448,619	403,010	136,135	987,764
(+) Restatement	2,822	11,452	870	15,144
Reversal of adjustment to present value	13,417	5,084	4,463	22,964
Balance as of 03/31/2026	464,858	419,546	141,468	1,025,872

2. Presentation of the interim financial information (quarterly information)

2.1. Statement of compliance

The individual and consolidated quarterly information was prepared and is being presented in accordance with CPC Technical Pronouncement 21 (R1) - Interim Statements and the international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board - IASB, and in accordance with the standards issued by the Brazilian Securities Commission- CVM, that apply to the preparation of Quarterly Information - ITR.

The other information regarding the bases of preparation and presentation of the quarterly information and summary of the main accounting policies has not changed in relation to that disclosed in note 3.1 to the Annual Financial Statements for the financial year ended December 31, 2025, and should therefore be read in conjunction.

Company Management represents that all the material information in the individual and consolidated quarterly

information is being disclosed and is that used by Management to run the Company.

The Board of Directors approved the issuance of the Company's financial information on May 11, 2026.

2.2. New pronouncements issued by the CPC - Accounting Pronouncements Committee and IASB - International Accounting Standards Board

(i) New or revised pronouncements applied on January 01, 2026

New or revised pronouncements	Nature of the revision/issuance
Amendments to IFRS 9 and IFRS 7 - Amendments to Classification and Measurement of Financial Instruments	The amendments to the standards indicate relevant changes in the classification, measurement and disclosure requirements for financial instruments. The Company will monitor the convergence of pronouncements CPC 48 and CPC 40 (R1) to assess the possible impacts on its financial statements.
Amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature-dependent Electricity.	The amendments apply to contracts referencing nature-dependent electricity, clarifying the application of the “own-use” requirements, among other definitions. The Company will monitor the convergence of pronouncements CPC 48 and CPC 40 (R1) to assess the possible impacts on its financial statements.

(ii) New or revised pronouncements issued but not yet effective

Pronouncements not yet effective	Annual periods beginning on or after	Nature of the revision/issuance
CPC 51 (IFRS 18) - Presentation and Disclosure in Financial Statements	January 01, 2027	CPC 51 is replacing technical pronouncement CPC 26 (R1), and its main objectives and changes are: improve the presentation of financial statements, require disclosure in the notes of management-defined performance measures, and introduce new principles for the aggregation and disaggregation of information. The amendments will impact the separate and consolidated financial statements for annual periods beginning on or after January 01, 2027 and comparative information (retrospective application). These impacts are being evaluated by Company management as part of an implementation process during the current year of 2026.
IFRS 19 - Subsidiaries without Public Responsibility: Disclosures	January 01, 2027	The standard allows subsidiaries that do not have public accountability and that have an ultimate or intermediate parent that prepares consolidated financial statements to elect to apply its reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in other IFRS accounting standards. As the Company's equity instruments are publicly traded, it is not eligible to apply IFRS 19. The investments in its subsidiaries will be valued by management.

3. Consolidated interim information

The consolidated quarterly information includes the financial information of Energisa and its subsidiaries as of March 31, 2026. Control is obtained when Energisa is exposed to or entitled to variable returns resulting from its involvement with the investee and has the ability to affect those returns through its power over the investees.

Group Energisa controls an investee if and only if it has:

• Power over the investee (i.e., existing rights guaranteeing it the current capacity to manage the investor's respective activities).
• The exposure to or right to variable returns deriving from its involvement in the investee.
• The capacity to use the power over the investee to affect the value of its returns.

Holding a majority of voting rights is generally presumed to result in control. To support this assumption and when Energisa Group has less than the majority of an investee's voting rights, the Group considers all pertinent facts and circumstances when assessing whether it has power over an investee, including:

• The contractual agreement between the investor and other holders of voting rights.
• Rights deriving from other contractual agreements.
• The voting rights and potential voting rights of the Group (investor).

The Company assesses whether or not it exercises the control of an investee if facts and circumstances indicate changes in one or more of three of the control elements mentioned above. A subsidiary is consolidated when the company obtains control over it and ends when the Group no longer exercises this control. Assets, liabilities and profit/loss of a subsidiary acquired or sold during the period are included in the consolidated financial information as from the date on which the Group exercises control until the date the Company no longer exercises control over the subsidiary.

The result and each component of other comprehensive income is attributed to the controlling shareholders and noncontrolling shareholders of Energisa Group, even if this results in a loss for the noncontrolling shareholders. When necessary, adjustments are made to the subsidiaries' financial information to align their accounting policies with the Group's accounting policies. All assets and liabilities, results, revenue, expenses and cash flows of the same group related to transactions between Group members, are completely eliminated upon consolidation.

The change in the subsidiary's equity interest that does not result in control being lost is recorded as an equity transaction.

If the company loses the control exercised over a subsidiary, the subsidiary's corresponding assets (including any goodwill) and liabilities are written off at their carrying amount on the date control is lost and the carrying amount is written out of any noncontrolling interest on the date control is lost (including any components of other comprehensive income attributed to them). Any difference resulting in a gain or loss is recorded in profit or loss. Any investment retained is recognized at fair value on the date control is lost.

See below the Company's direct and indirect subsidiaries.

Company	Acronym	Parent	Line of business	% interest
				03/31/2026	12/31/2025
Direct subsidiaries
Energisa Sergipe - Distribuidora de Energia S/A (1)	ESE	ESA	Electricity distribution	100	100
Energisa Minas Rio - Distribuidora de Energia S/A (1)	EMR	ESA	Electricity distribution	100	100
Energisa Rondônia - Distribuidora de Energia S/A	ERO	ESA	Electricity distribution	99.51	99.51
Energisa Acre - Distribuidora de Energia S/A	EAC	ESA	Electricity distribution	99.77	99.77
Energisa Soluções S/A	ESOL	ESA	Services	100	100
Voltz Capital S/A	Voltz	ESA	Services	100	100
Dinâmica Direitos Creditórios	Dinâmica	ESA	Securitization of credits	100	100
Energisa Serviços Aéreos de Aeroinspeção S/A	ESEA	ESA	Aerial thermographic inspections	100	100
Energisa Planejamento e Corretagem de Seguros Ltda.	EPLAN	ESA	Insurance brokerage	58.26	58.26
Energisa Comercializadora de Energia Ltda.	ECOM	ESA	Electricity marketing	100	100
Energisa Geração Usina Maurício S/A	EGUM	ESA	Electricity generation	100	100
Energisa Geração Central Solar Coremas S/A	EGCS-CO	ESA	Solar energy generation	100	100
Parque Eólico Sobradinho Ltda.	SOBR	ESA	Wind energy generation	100	100
Energisa Geração Eólica Boa Esperança S/A	EGCE-BE	ESA	Wind energy generation	100	100
Energisa Geração Eólica Mandacaru S/A	EGCE-MA	ESA	Wind energy generation	100	100
Energisa Central Eólica Alecrim S/A	EGCE-AL	ESA	Wind energy generation	100	100
Energisa Geração Central Eólica Umbuzeiro - Muquim S/A	EGCE-UM	ESA	Wind energy generation	100	100
Energisa Geração Central Solar Rio do Peixe I S/A	EGCS-RP1	ESA	Solar energy generation	100	100
Energisa Geração Central Solar Rio do Peixe II S/A	EGCS-RP2	ESA	Solar energy generation	100	100
Alsol Energias Renováveis S/A	ALSOL	ESA	Holding and Distributed-energy generation	89.70	89.70
Energisa Participações Minoritárias S/A (2)	EPM	ESA	Holding company	100	100
Energisa Participações Nordeste S/A (2)	EPNE	ESA	Holding company	55	55
Nova Denerge S/A	NOVA	ESA	Holding company	99.99	99.99
Energisa Transmissão de Energia S/A (1)	DENERGE	ESA	Holding company	100	100
Energisa Distribuição de Gás S/A	ETE	ESA	Holding company	100	100
Energisa Biogás S/A	EDG	ESA	Holding company	100	100
Private Equity Investment Fund (3)	EDIC	ESA	Investment fund	100	100
FIM Zona da Mata	END	ESA	Exclusive investment fund	100	100

Company	Acronym	Parent	Line of business	% interest
				03/31/2026	12/31/2025
Caixa FI Energisa	CX FI ESA	ESA	Exclusive investment fund	100	100
Clarke Desenvolvimento de Software S/A	CLARKE	ESA	Services	70.04	70.04
Indirect subsidiaries
Rede Energia Participações S/A (1)	REDE	DENER GE NOVA	Holding company	99.80	99.80
Denerge Desenvolvimento Energético S/A	DENERGE	DENER GE	Holding company	100	100
QMRA Participações S/A	QMRA	REDE	Holding company	99.80	99.80
Multi Energisa Serviços S/A	Multi	REDE	Services	99.90	99.90
Companhia Técnica de Comercialização de Energia S/A	CTCE	REDE	Electricity marketing	99.80	99.80
Energisa Mato Grosso Distribuidora de Energia S/A (1)	EMT	REDE	Electricity distribution	97.31	97.31
Energisa Mato Grosso do Sul Distribuidora de Energia S/A (1)	EMS	REDE	Electricity distribution	99.73	99.73
Energisa Tocantins Distribuidora de Energia S/A	ETO	REDE	Electricity distribution	76.52	76.52
Energisa Sul-Sudeste Distribuidora de Energia S/A (1)	ESS	REDE	Electricity distribution	99.06	99.06
Energisa Soluções Construções e Serviços em Linhas e Redes S/A	ESOLC	ESOL	Services	100	100
Energisa Pará Transmissora de Energia I S/A	EPA I	ETE	Electricity transmission	100	100
Energisa Pará Transmissora de Energia II S/A	EPA II	ETE	Electricity transmission	100	100
Energisa Goiás Transmissora de Energia I S/A	EGO I	ETE	Electricity transmission	100	100
Energisa Tocantins Transmissora de Energia S/A	ETT	ETE	Electricity transmission	100	100
Energisa Tocantins Transmissora de Energia S/A II	ETT II	ETE	Electricity transmission	100	100
Energisa Amazonas Transmissora de Energia S/A	EAM	ETE	Electricity transmission	100	100
Energisa Amazonas Transmissora de Energia II S/A	EAM II	ETE	Electricity transmission	100	100
Energisa Amapá Transmissora de Energia S/A	EAP	ETE	Electricity transmission	100	100
Energisa Paranaíta Transmissora de Energia S/A	EPT	ETE	Electricity transmission	100	100
Gemini Energy S/A	Gemini	ETE	Electricity transmission	100	100
Linhas de Macapá Transmissora de Energia S/A (1)	LMTE	Gemini	Electricity transmission	85.04	85.04
Linhas de Xingu Transmissora de Energia S/A (1)	LXTE	Gemini	Electricity transmission	83.34	83.34
Linhas de Taubaté Transmissora de Energia S/A	LTTE	Gemini	Electricity transmission	100	100
Linhas de Itacaiúnas Transmissora de Energia	LITE	Gemini	Electricity transmission	100	100
Plena Op. e Manut. de Transmissoras de Energia Ltda.	POMTE	Gemini	Electricity transmission	100	100
Laralsol Empreendimentos Energéticos Ltda.	Laralsol	ALSOL	Distributed energy generation	99.90	99.90
URB - Energia Limpa Ltda.	URB	ALSOL	Distributed energy generation	100	100
Reenergisa Geração Fotovoltaica I Ltda.	Reenergisa I	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica II S/A	Reenergisa II	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica III S/A	Reenergisa III	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica IV S/A	Reenergisa IV	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica V S/A	Reenergisa V	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica VI S/A	Reenergisa VI	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica VII S/A	Reenergisa VII	ALSOL	Photovoltaic distributed generation	100	100
Reenergisa Geração Fotovoltaica VIII S/A	Reenergisa VIII	ALSOL	Photovoltaic distributed generation	100	100
Renesolar Engenharia Elétrica Ltda.	Renesolar	ALSOL	Photovoltaic distributed generation	100	100
Flowsolar Engenharia Elétrica Ltda.	Flowsolar	ALSOL	Photovoltaic distributed generation	100	100
Carbonsolar Engenharia Elétrica Ltda.	Carbonsolar	ALSOL	Photovoltaic distributed generation	100	100
Agric Adubos e Gestão de Resíduos Industriais e Comerciais Ltda.	AGRIC	EBG	Compositing plant	100	100
Companhia de Gás do Espírito Santo	ES GÁS	EDG	Piped gas distribution	100	100
Ângulo 45 Participações S/A	Ângulo 45 Part	ALSOL	Holding company	100	100
Ângulo 45 Empreendimentos S/A	Ventures	Ângulo 45	Photovoltaic distributed generation	100	100
Norgás S/A	Norgás	EDGNE	Holding company	51	51
Energisa Paraíba - Distribuidora de Energia S/A (1)	EPB	EPNE	Electricity distribution	100	100

(1) Publicly Held companies.

(2) Ownership percentage as per shareholders' agreement. See note No. 31.

(3) Investment Funds and Shares (FIC – FIDC) – In February 2025, the Company and BTG Pactual amended the shareholders' agreement to: (i) extend the deadline for exercising call and put options from 4 (four) years to 7 (seven) years, as from the date of the agreement's signing (ii) modify the clause related to the option exercise price, adjusting the spread rate from 2.35% per year to 1.95% per year. As of March 31, 2026, the amount was R$ 390,276 (R$ 375,637 as of December 31, 2025)—see note 19.

(4) In 2025, the interests of the following subsidiaries changed due to the Group's corporate reorganization: (i) control of subsidiary Denerge was transferred to the subsidiary Nova Denerge (formerly Nova Gemini); (ii) the preferred shares of subsidiary Energisa Participações Minoritárias S/A (EPM) were sold by shareholder Itaú to the Company; (iii) the shares of subsidiary EDG owned by shareholder EPM were transferred to the Company through a capital reduction in EPM; (iv) increase in the interest held in indirect subsidiary Rede Energia due to the capital increase carried out by EPM; (v) and the mergers of Rede Power into Rede Energia S/A and Energisa Distribuição de Gás Nordeste S/A into Energisa Distribuição de Gás S/A, further details are provided in the movement in note 15. Elsewhere, EPM was merged into Denerge (both indirect subsidiaries of Energisa S/A) on April 01, 2026.

Description of main consolidation procedures:

(a) Elimination of inter-company asset and liability account balances
(b) Elimination of the balances of investments and corresponding interests in the capital and earnings of subsidiaries; and
(c) Elimination of inter-company income and expense balances arising from inter-company transactions.

4. Segment reporting – consolidated

An operational segment is a component of the Company that develops business activities from which revenue streams can be derived and expenses incurred, including revenue and expenses related to transactions with other Company components. All operational income from segments is reviewed frequently by Management to support decisions about new resources to be allocated to the segment and to evaluate its performance, for which individual financial information is made available.

Segment results reported to Management include items directly attributable to the segment and items that can be reasonably allocated. Items not allocated primarily consist of corporate assets.

Summary segment reporting follows:

a) Segment reporting

	02/31/2026
	Electricity distribution	Electricity transmission	Hydraulic, solar and distributed generation	Marketing	Distribution of Piped Gas	Holding company and Services	Intersegment operations / business combination	Total
Net operating revenue	7,997,688	292,648	170,159	460,781	136,705	185,511	(248,287)	8,995,205
Operating costs and expenses	(6,026,765)	(65,631)	(117,986)	(450,313)	(78,720)	(172,995)	265,945	(6,646,465)
Depreciation and amortization	(411,872)	(371)	(29,540)	(402)	(18,353)	(23,141)	(85,403)	(569,082)
Operating income before finance income/expenses and equity interests	1,559,051	226,646	22,633	10,066	39,632	(10,625)	(67,745)	1,779,658
Finance Revenue	384,175	16,784	16,521	3,687	6,068	378,623	(245,041)	560,817
Finance Costs	(1,113,776)	(102,590)	(73,986)	(12,391)	(26,160)	(513,453)	251,452	(1,590,904)
Finance income/loss	(729,601)	(85,806)	(57,465)	(8,704)	(20,092)	(134,830)	6,411	(1,030,087)
Equity in the net income of subsidiaries and associated companies	-	-	4,523	-	-	1,668,516	(1,633,661)	39,378
Income tax and social contribution	(177,599)	(43,737)	12,265	(2,820)	(6,944)	(11,365)	16,021	(214,179)
Net income for the period	651,851	97,103	(18,044)	(1,458)	12,596	1,511,696	(1,678,974)	574,770

	03/31/2025
	Electricity distribution	Electricity transmission	Hydraulic, solar and distributed generation	Marketing	Distribution of Piped Gas	Holding company and Services	Intersegment operations / business combination	Total
Net operating revenue	7,493,910	349,162	151,121	320,319	156,990	163,960	(225,846)	8,409,616
Operating costs and expenses	(5,421,184)	(72,857)	(47,656)	(380,747)	(117,986)	(161,397)	189,198	(6,012,629)
Depreciation and amortization	(362,568)	(364)	(24,245)	(107)	(16,833)	(25,452)	(86,283)	(515,852)
Operating income before finance income/expenses and equity interests	1,710,158	275,941	79,220	(60,535)	22,171	(22,889)	(122,931)	1,881,135
Finance Revenue	431,498	13,315	8,460	4,247	9,643	355,638	(264,764)	558,037
Finance Costs	(929,806)	(75,978)	(51,832)	(9,009)	(31,466)	(342,013)	268,182	(1,171,922)
Finance income/loss	(498,308)	(62,663)	(43,372)	(4,762)	(21,823)	13,625	3,418	(613,885)
Equity in the net income of subsidiaries and associated companies	-	-	4,009	-	-	2,141,495	(2,115,032)	30,472
Income tax and social contribution	(230,525)	(37,979)	6,640	18,775	(409)	(44,255)	16,746	(271,007)
Net income for the period	981,325	175,299	46,497	(46,522)	(61)	2,087,976	(2,217,799)	1,026,715
	Electricity distribution	Electricity transmission	Hydraulic, solar and distributed generation	Marketing	Distribution of Piped Gas	Holding company and Services	03/31/2026	12/31/2025
---	---	---	---	---	---	---	---	---
Segment assets	63,279,307	10,372,754	3,794,398	595,594	1,879,731	14,590,394	94,512,178	90,786,128
Current assets	16,411,969	1,388,901	373,827	436,397	321,274	5,738,372	24,670,740	22,276,703
Noncurrent assets	46,867,338	8,983,853	3,420,571	159,197	1,558,457	8,852,022	69,841,438	68,509,425
Segment liabilities	45,788,116	4,977,551	2,522,953	831,844	765,363	18,020,376	72,906,203	69,630,640
Current liabilities	10,659,898	638,640	222,126	344,835	306,655	2,612,835	14,784,989	14,793,626
Noncurrent liabilities	35,128,218	4,338,911	2,300,827	487,009	458,708	15,407,541	58,121,214	54,837,014

b) Reconciliation of segment revenue, profits, assets and liabilities

	03/31/2026	03/31/2025
Total net segment revenue	9,243,492	8,635,462
Elimination of intersegment revenue	(248,287)	(225,846)
Consolidated net revenue	8,995,205	8,409,616
Operating costs and expenses	(6,912,410)	(6,201,827)
Elimination of intersegment revenue	265,945	189,198
Consolidated operating costs and expenses	(6,646,465)	(6,012,629)
Total amortization and depreciation of segments	(483,679)	(429,569)
Intersegment result	(85,403)	(86,283)
Consolidated amortization and depreciation.	(569,082)	(515,852)
Total financial revenue of segments	805,858	822,801
Elimination of intersegment revenue	(245,041)	(264,764)
Consolidated financial revenue	560,817	558,037
Total financial expense of segments	(1,842,356)	(1,440,104)
Elimination of intersegment expense	251,452	268,182
Consolidated financial expense	(1,590,904)	(1,171,922)
Total profit or loss for the segments	788,949	1,297,722
Profit/loss before tax on profit	788,949	1,297,722
Income tax and social contribution	(214,179)	(271,007)
Taxes on Net Income	(214,179)	(271,007)
Net income for the period	574,770	1,026,715
Net income for the period	574,770	1,026,715

03/31/2026

12/31/2025

Assets
| Total segment assets | 94,512,178 | 90,786,128 |
| --- | --- | --- |
| Other unallocated amounts | (7,791,295) | (7,314,481) |
| Total consolidated assets | 86,720,883 | 83,471,647 |
| Liabilities | | |
| Total segment liabilities | 72,906,203 | 69,630,640 |
| Other unallocated amounts | (7,820,838) | (7,343,537) |
| Total consolidated liabilities | 65,085,365 | 62,287,103 |

5. Cash and cash equivalents, short-term investments in the money market and secured funds

5.1 Cash and cash equivalents

	Parent company		Consolidated
	03/31/2026	12/31/2025	03/31/2026	12/31/2025
Cash and sight deposits	77,723	77,385	651,271	930,644
Liquid financial investments:
Certificates of Bank Deposit (CDBs)	284,833	275,139	313,722	309,593
Reverse repurchase agreements	-	-	175,428	145,768
Total - Current (1)	362,556	352,524	1,140,421	1,386,005

(1) The short-term investments presented have daily liquidity and can be redeemed at the rate contracted.

Weighted average interest on the portfolio in the period ended March 31, 2026 was 101.1% of the CDI rate (101.1% of the CDI rate at December 31, 2025) for the parent company and 97.1% of the CDI rate (97.9% as of December 31, 2025) for the consolidated statement.

5.2 Money market and secured funds

	Parent company		Consolidated
	03/31/2026	12/31/2025	03/31/2026	12/31/2025
Certificates of Bank Deposit (CDBs)	9	9	344,868	293,786
Bank Deposit Certificates (CDB) Commercial Guarantees (1)	-	-	11,178	14,077
Debentures (2)	6,261,451	6,153,279	-	-
Investment Funds (3)	120,533	117,622	200,937	240,037
Exclusive investment funds
Certificates of Bank Deposit (CDBs)	2,853	1,663	10,892	5,591
Bank Credit Note (CCB)	1,028	1,408	3,925	4,731
Reverse repurchase agreements	191,448	201,029	728,319	674,279
Multimarket fund	208,046	293,558	794,206	986,809
Fixed-income fund	1,696,489	1,406,120	6,432,137	4,727,526
Financial Treasury Bills (LFT)	292,118	344,044	1,108,519	1,115,278
Financial Bills (LF)	337,687	311,501	1,289,102	1,047,127
Credit Note	3,200	3,780	12,216	12,707
National treasury notes (NTNB)	44,977	50,236	171,746	168,870
National treasury notes (NTNF)	-	59,870	-	201,257
Credit Receivables Investment Funds (4)	-	-	71,365	70,011
Total (5)	9,159,839	8,944,119	11,179,410	9,562,086
Current	3,578,723	3,443,285	10,655,635	9,087,240
Noncurrent	5,581,116	5,500,834	523,775	474,846

(1) Bank Deposit Certificate (CDB) - Commercial Guarantees - These investments denote funds underlying commercial client guarantees, pursuant to the energy sale contract. Funds in the same amount were recognized as a corresponding entry under other liabilities - other accounts payable, classified as current liabilities in the consolidated statements;
(2) Debentures: consist of private debentures issued by the electricity DisCo subsidiaries;
(3) Investment Fund: includes funds classified as Fixed Income and Multimarket;
(4) Non-Standardized Credit Receivables Investment Fund - FIDC IV Energisa Centro Oeste maturing on October 01, 2034; and
(5) Includes R$ 42,700 (R$ 41,261 as of December 31, 2025) parent company and R$ 544,790 (R$ 491,106 as of December 31, 2025) consolidated related to restricted funds.

Weighted average interest on the portfolio in the period ended March 31, 2026 was 78.3% of the CDI rate (81.6% of the CDI rate at December 31, 2025) for the parent company and 95.1% of the CDI rate (97.9% as of December 31, 2025) for the consolidated statement.

6. Clients, consumers, concession operators and other

	Parent company	Consolidated
			Outstanding balances		Overdue balances				PPECLD (1)	Total
	03/31/2026	12/31/2025	Up to 60 days	Over 60 days	Up to 90 days	91 to 180 days	181 to 360 days	Over 360 days		03/31/2026	12/31/2025
Current amounts: (2)
Residential	-	-	665,713	-	561,286	105,909	6,077	30,834	(167,546)	1,202,273	1,221,675
Industrial	-	-	137,545	-	24,833	3,397	6,661	38,407	(38,591)	172,252	175,015
Commercial	-	-	263,160	-	89,524	15,165	4,500	34,807	(40,512)	366,644	369,338
Rural	-	-	153,951	-	70,436	24,479	34,173	18,526	(19,258)	282,307	300,467
Public authorities	-	-	154,419	-	15,535	509	345	1,438	(1,675)	170,571	171,417
Public lighting	-	-	65,943	-	2,468	10	23	6,591	(6,601)	68,434	72,899
Public service	-	-	54,587	-	12,779	13,317	20,090	135,098	(151,920)	83,951	87,384
Unbilled sales	-	-	1,214,943	151,102	-	-	-	-	(11,364)	1,354,681	1,443,625
(-) Collection undergoing classification	-	-	(2,245)	-	-	-	-	-	-	(2,245)	(627)
Renegotiated amounts:	-	-
Residential	-	-	56,520	311,705	42,544	23,326	30,905	210,043	(407,621)	267,422	273,681
Industrial	-	-	7,911	39,427	4,526	1,818	4,045	38,459	(52,760)	43,426	40,318
Commercial	-	-	41,893	185,283	17,588	5,064	7,122	69,423	(120,833)	205,540	213,274
Rural	-	-	11,154	54,486	6,443	3,395	4,838	15,746	(45,543)	50,519	52,917
Government (3)	-	-	6,308	166,446	1,825	51	1	1,769	(2,958)	173,442	184,547
Public lighting	-	-	1,170	12,617	208	7	-	110	(116)	13,996	14,868
Public service	-	-	1,122	16,169	118	-	274	3,953	(4,228)	17,408	19,957
(-) Adjustment to Present Value (4)	-	-	(34,277)	(149,464)	-	-	-	-	-	(183,741)	(202,586)
Subtotal - receivables	-	-	2,799,817	787,771	850,113	196,447	119,054	605,204	(1,071,526)	4,286,880	4,438,169
Electricity sales to concession operators (5)	-	-	209,024	-	-	-	-	32,027	(880)	240,171	201,276
Specialized Services	73,160	77,246	104,010	21,424	5,324	1,677	3,140	15,987	(66,012)	85,550	101,886
Electricity transmission services (6)	-	-	79,319	-	456	3,090	8,559	26,896	(19,780)	98,540	88,087
Gas distribution services	-	-	48,090	-	1,935	71	72	912	(1,035)	50,045	97,541
Energy sold to free clients	-	-	206,791	-	-	-	-	-	(318)	206,473	222,090
Others (7)	-	-	52,603	-	-	-	-	214,437	(202,225)	64,815	45,691
Total	73,160	77,246	3,499,654	809,195	857,828	201,285	130,825	895,463	(1,361,776)	5,032,474	5,194,740
Current	73,160	77,246								4,610,348	4,771,318
Noncurrent	-	-								422,126	423,422

(1) See the changes in the provisions for expected losses on allowance for doubtful accounts:

Changes in provisions	03/31/2026	12/31/2025
Balances as of 12/31/2025 and 12/31/2024 - current and noncurrent	1,473,177	1,403,608
Net provisions made in the period (a)	155,567	526,893
Write-off of electricity bills - uncollectible	(103,026)	(457,324)
Balances as of 03/31/2026 and 12/31/2025 - current and noncurrent	1,525,718	1,473,177
Allocation:
Clients, consumers, concession operators and other	1,361,776	1,313,315
Credit receivables	54,799	54,801
Other receivables	109,143	105,061
	1,525,718	1,473,177

a) Includes (i) a provision made at the subsidiary EMT in the amount of R$ 133 (R$ 87,907 as of December 31, 2025 at the subsidiaries EMT, EMR, EPB and ESE) related to ICMS on distributed generation (DG), and is also accounted for under other income.
(2) Maturities are scheduled for the 5th working day after the bills are delivered, except for government consumers who have 10 working days to pay;
(3) Government - credits receivable by the subsidiaries ESE and EMT with clients, as follows:

(i) the subsidiary ESE has receivables with Companhia de Desenvolvimento dos Vales do São Francisco e do Parnaíba (CODEVASF), for electricity bills for the period January/1994 to November/1997. The CODEVASF debit is subject to a legal collection proceeding before the federal courts of Distrito Federal.

The subsidiary ESE received a tax credit right of R$ 104,508 on April 24, 2024. An additional amount of R$ 40,941 remains under dispute, with the calculations still under analysis as of March 31, 2026. The position of our legal advisors is that the additional amount is likely to be received, since the dispute centers around a calculation error made by CODEVASF.

The risk of CODEVASF defaulting is minimal as CODEVASF is a public company controlled and owned by the Federal Government.

As of March 31, 2026 the receivable on these credits, including interest and monetary restatement, amounts to R$ 46,651 (R$ 46,651 as of December 31, 2025). The subsidiary ESE made a provision on these credits for the adjustment to present value of R$ 22,555 (R$ 23,951 as of December 31, 2025), recorded in profit or loss for the period under other finance costs in the statement, calculated by applying the annual discount rate of IPCA-E + 20%, reflecting the operation's risk with the Federal Government being the creditor. This rate is compatible with the nature, tenor and risk for similar transactions on market conditions in the current situation, and adequately reflects the capital costs, given the nature, complexity and volume of the renegotiations.

(ii) The subsidiary EMT entered a renegotiation on August 03, 2016 and signed a debt financing and acknowledgment agreement with Companhia de Saneamento da Capital (SANECAP) for the sale of electricity to consumers, equity of interest, monetary restatement and fines, to be received in installments equal to 50% of the amount paid monthly by Companhia de Saneamento to the municipal government of Cuiabá, commencing December 31, 2016. The debit balance incurs interest of 0.5% per month limited to the portion of the concession through the end of the concession SANECAP (April/2042). As of March 31, 2026 the receivable on this credit amounts to R$ 56,100 (R$ 58,145 as of December 31, 2025). The subsidiary EMT made a provision on these credits for the adjustment to present value of R$ 22,346 (R$ 22,768 as of December 31, 2025), with R$ 422 (R$ 1,194 as of December 31, 2025) recorded in profit or loss for the period under other finance costs in the consolidated statement, calculated by applying the annual CDI rate variance. This rate is compatible with the nature, tenor and risk for similar transactions on market conditions in the current situation, and adequately reflects the capital costs, given the nature, complexity and volume of the renegotiations.

(4) Adjustment to Present Value (AVP) - calculated for renegotiated debt contracts. The market rate was used for discounting to present value.
(5) Energy sales to distributors: includes energy sold at the Electricity Trading Chamber - CCEE, as follows:

Composition of CCEE credits and debits	Consolidated
	03/31/2026	12/31/2025
Outstanding credits	209,024	170,129
Credits linked to court injunctions (*)	32,027	32,027
Subtotal CCEE credits (**)	241,051	202,156
(-) Energy acquisitions at CCEE (***)	(500,277)	(420,168)
(-) System Service Charges - ESS (***)	(32,293)	(6,887)
Total CCEE credits (debits)	(291,519)	(224,899)

(*) Amounts linked to court injunctions that can be subject to change, depending on the outcome of the legal proceedings in progress. Not included in the rationing area, these companies obtained a court injunction which overturned ANEEL Resolution 288 issued May 16, 2002 which aimed to clarify companies operating in the sector about the treatment and means of applying certain MAE (now the CCEE) accounting rules set out in the General Electric Sector Agreement. These companies' claim involves the sale of Itaipu's quota in the Southeast/Midwest submarket during the period of rationing between 2001 and 2002, when there was a significant discrepancy in short-term energy prices between the submarkets. Management monitors the claims made and believes the amounts will be received in full

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either from the borrowers judicially contesting the loans or from other companies which the CCEE specifies in the future.

(**) The sub-total of R$ 241,051 (R$ 202,156 as of December 31, 2025) does not include the expected allowance for doubtful accounts of R$ 880 (R$ 880 as of December 31, 2025).

(***) See note 18.

(6) The PPECLD was recorded on outstanding severance-related receivables from SIN agents issued by ONS in favor of the Company's electricity transmission subsidiaries. These were recognized on an exceptional basis during the period, as the subsidiaries assessed that recovering these amounts would be unlikely, and therefore recorded a provision for losses.

(7) Other - includes taxed services, other consumer receivables and/or payables, such as:

ICMS Charge = case related to the ICMS Charge filed by Mato Grosso state against the subsidiary EMT resulting from assessments on the grounds that the subsidiary contravened decisions exempting certain clients from paying ICMS on the demand. On September 23, 2021 the subsidiary EMT entered the Extrajudicial Settlement - TAE with the State, resulting in the payment at sight on September 30, 2021 of the full amount owed upon entering the REFIS-MT Program. The subsidiary filed administrative and/or judicial measures to recover these payments, against the consumers that effectively benefited from judicial decisions not to pay the ICMS. Management has made a provision for expected losses on doubtful accounts of R$ 79,337 (R$ 79,469 as of December 31, 2025) as the asset's realization is subject to uncertain future events not completely within the subsidiary's control.

ICMS on Distributed Generation - includes a portion of the ICMS levied on connection charges or the use of the distribution system and on the energy rate of consumers with distributed generation (DG) who are not covered by the exemption granted by state governments, in the amount of R$ 97,592 (R$ 97,675 as of December 31, 2025), net of an estimated loss provision.

ICMS credits receivable from clients
Company/Origin	03/31/2026	12/31/2025
EMT - ICMS Charge	79,337	79,469
EMT - ICMS Distributed Generation	73,406	73,471
EPB - ICMS Distributed Generation	16,094	16,101
ESE - ICMS Distributed Generation	155	166
EMR - ICMS Distributed Generation	1,313	1,313
EAC - ICMS Distributed Generation	133	133
ERO - ICMS Distributed Generation	6,491	6,491
TOTAL	176,929	177,144

7. Recoverable taxes

(1) Effects of reducing ICMS on the PIS and COFINS calculation base:

Company	03/31/2026	12/31/2025
Final and unappealable cases
EPB	139,238	136,239
ETO	70,864	70,203
ESE	9,298	11,592
EMT	383,084	403,100
EMS	28,082	55,024
EMR	122,418	138,564
ESS	131,453	153,242
Total	884,437	967,964
Current	283,185	360,907
Noncurrent	601,252	607,057

On May 13, 2021 the Supreme Federal Court (STF) completed its ruling that excluding ICMS from the PIS and COFINS tax base is a general

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precedent decision in case RE 574706, also ratifying the principle that the ICMS amounts stated in invoices should be excluded from the tax base, leading to the consolidated recognition of credits of R$ 2,976,207 in 2021. In November 2025, ESS wrote off R$ 54,530 from the opening balance (R$ 29,314 principal and R$ 25,216 SELIC), due to the final and unappealable decision involving EVP (merged into ESS), case No. 5002300-62.2017.4.03.6100, and the total amount of R$ 2,946,894 arising from final and unappealable lawsuits of its subsidiaries was included. The amounts were duly restated by applying the Selic base interest rate, which over the periods amounted to R$ 1,570,921 (R$ 1,552,426 as of December 31, 2025), recorded under other financial revenue in the statement of profit or loss.

The subsidiaries EPB, ETO, ESE, EMT, EMS, ERO, EAC, ESS and EMR had their credits accepted by the Federal Tax Authorities (RFB), in the amount of R$ 3,633,378 (R$ 3,531,356 as of December 31, 2025) being offset in the period.

8. Readjustments, rate-setting reviews and other regulatory matters - consolidated

8.1 Electricity Distribution

As per the DisCos' Concession Agreement, the electricity concession operator's revenue is divided into two parts: Parcel A (consisting of non manageable expenses) and Parcel B (efficient operating costs and capital costs).

The rate for consumers is restated by the Annual Rate Adjustment (RTA) and the Periodic Rate-setting Review (RTP), both provided for in the concession agreement.

The electricity distribution concession operators may also request an Extraordinary Rate-setting Review (RTE) whenever an event causes a significant economic and financial imbalance in the concession.

8.1.1 Annual Rate Adjustments

The Annual Rate Adjustment (RTA) aims to pass through uncontrollable costs and to monetarily restate controllable costs.

The subsidiaries' rates have been readjusted as follows:

Company	Ratifying Resolution	Average effect on consumers (%)	Start date
ESS	Resolution 3480, issued 7/01/2025	19.05%	07/12/2025
EMS	Resolution 3441, issued 4/08/2025	1.33%	04/08/2025
EMT	Resolution 3440, issued 4/01/2025	1.79%	04/08/2025
ESE	Resolution 3444, issued 4/15/2025	7.00%	04/22/2025
EMR	Resolution 3471, issued 6/18/2025	3.61%	06/22/2025
EAC	Resolution 3556, issued 12/09/2025	11.54%	12/13/2025
ERO	Resolution 3560, issued 12/09/2025	15.72%	12/13/2025

8.1.2 Periodical Rate-setting Reviews

The subsidiaries' Periodical Rate Reviews (RTP) take place: (i) every four years at EPB, and (ii) every five years at EMT, EMS, ESE, EMR, ESS, ETO, ERO and EAC.

In this process ANEEL recalculated the rates according to the changes in the structure of the concession operators' costs and sales, in order to foster the efficiency and moderation of the rates. ANEEL is also currently calculating the entire Parcel B, i.e., the part of the Revenue to cover the distributor's operational costs and investments.

DisCo	Ratifying Resolution	Average effect to be faced by consumers (%)	Term (start)
ETO	Resolution 3479, issued 7/01/2025	12.68%	07/04/2025
EPB	Resolution 3518, issued 8/26/2025	13.59%	08/28/2025

ANEEL approved the Companies' Periodic Rate-Setting Review and the effect related to the remuneration of the indemnifiable financial asset was recognized in other operating revenue. The indemnifiable concession financial assets are presented and classified at fair value through profit or loss, updated by the monthly IPCA variation, and at the end of the rate-setting review process they converge to the amount effectively approved by ANEEL.

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8.1.3 Rate Flags

From 2015 energy bills will start using the Rate Tier System.

The rate tiers are used to inform consumers of the electricity generation conditions in the National Interconnected Grid - SIN by including a surcharge in the Energy Rate - TE.

The rate tier system consists of:

• Green Rate Tier;
• Yellow Rate Tier and
• Red Rate Tier, segregated into Levels 1 and 2.

The rate increases for every additional 100 kilowatt-hours (kWh) consumed in a given month, as shown in the table below.

| Tier | Previous
R$/kWh REH no. 3.051/2022 | Current
R$/kWh REH no. 3.306/2024 (1) |
| --- | --- | --- |
| Green | - | - |
| Yellow | 2.99 | 1.89 |
| Red 1 | 6.50 | 4.46 |
| Red 2 | 9.80 | 7.88 |

(1) On March 05, 2024, ANEEL Ratification Resolution 3.306 approved new rate-tier surcharges effective from April 01, 2024.

The rate tiers were in force as follows:

	03/31/2026	12/31/2025
January	Green	Green
February	Green	Green
March	Green	Green

8.1.4 Other regulatory issues - overcontracting

In recent years, Brazil has experienced a widespread overcontracting of energy, a situation that began in 2016 and affected a large portion of the country's distribution companies. This situation was driven by uncertainties in demand growth due to economic factors, as well as the increasing migration of captive consumers to the free market and the expansion of distributed generation. The factors were compounded by a centralized procurement model, where the distribution companies' portfolio contains long-term contracts with little room for maneuver.

ANEEL and the distribution companies have therefore been disputing the methodology for determining overcontracting results. The involuntary amounts required for calculation were disclosed by ANEEL until 2018, with the latest act being Dispatch 4.395, dated November 10, 2023.

The known results are therefore already being ratified in the latest rate-setting events, while the remaining years (2019-2025) are still based on the best estimates given the current methodology.

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A negative R$ 1,027 was recorded in the period ended March 31, 2026 (R$ 6,261 as of December 31, 2025), primarily related to the result for the year, in addition to R$ 215 (R$ 52 as of December 31, 2025) of negative financial restatement.

Company	12/31/2025		Principal	Monetary Restatement	03/31/2026
	Amounts ratified (2018)	Amounts not ratified (2019 to 2025)
EMT	867	(62,287)	-	(2,127)	(64,414)
EMS	11,260	50,131	-	1,712	51,843
ESS	-	(3,921)	-	(134)	(4,055)
EPB	-	21,703	-	741	22,444
ERO	-	42,091	(1,207)	1,389	42,273
EAC	704	(48,026)	-	(1,639)	(49,665)
EMR	-	(4,589)	-	(157)	(4,746)
Total	12,831	(4,898)	(1,207)	(215)	(6,320)

8.1.5 Concession extensions

In June 2024, the Presidency of the Republic issued Decree 12.068/2024, enabling the extension of electricity distribution concessions set to expire between 2025 and 2031. This decree establishes the main guidelines for the new concession contracts, with a view to modernizing distribution grids and serving society better. In October 2024, ANEEL launched a public consultation to gather input for improving the draft amendment to the electricity distribution concession contract. On February 27, 2025, ANEEL published its decision approving the draft amendment.

The subsidiaries EMT, EMS, EPB and ESE submitted their requests on March 28, 2025, to anticipate the renewal of their respective concessions for a 30-year term, in accordance with Decree No. 12,068/2024 and have the following status:

Company	Current expiry date	New expiry date	Ansel approval date	Date MME signed
EMT	12/11/2027	12/11/2057	12/09/2025	05/08/2026
EMS	12/04/2027	12/04/2057	06/17/2025	05/08/2026
ESE	12/23/2027	12/23/2057	11/11/2025	05/08/2026
EPB	03/21/2031	03/21/2061	06/10/2025	05/08/2026

According to ANEEL's decision, the companies met the criteria relating to efficiency in service continuity and economic-financial management and demonstrated fiscal, labor and sector compliance and legal, economic-financial and technical qualifications, thereby satisfying the conditions established in Decree No. 12.068 issued June 20, 2024.

On April 02, 2026, the Ministry of Mines and Energy (MME) approved the extension of the public electricity distribution concession for EMT, EMS, EPB and ESE, pursuant to a dispatch published in the Official Government Press on the same date.

8.2 Electricity Transmission

8.2.1 Annual Rate Adjustments

Ratifying Resolution No. 3.481, dated July 17, 2025, established the Annual Permitted Revenues (RAP) of the transmission subsidiaries for the 12-month cycle from July 01, 2025 to June 30, 2026. The subsidiaries' RAP was adjusted by the IPCA inflation index by +5.32%.

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See below the adjusted RAP amounts for the subsidiaries, excluding the adjustment portion (PA):

Company	Concession agreement	National Grid			National Border Grid		Other fixtures	Total Round 2025-2026	Total Round 2024-2025
		RBL	RBNI	RMEL	RBL	RBNI	RPEC/RCDM
LMTE	009/2008	152,969	91	3	7,711	2,427	824	164,025	155,740
EAM	009/2021	24,389	228	-	12,578	4,508	3,836	45,539	30,606
EGO I	024/2017	54,917	-	-	-	-	-	54,917	52,143
EPA I	043/2017	53,638	-	-	10,236	-	4,834	68,708	65,238
EPA II	030/2018	39,015	7,000	-	9,101	-	937	56,053	53,222
EPT	022/2016	3,262	-	-	8,977	-	1,627	13,866	13,166
ETT II	014/2021	1,092	-	-	3,295	-	1,058	5,445	4,805
ETT I	004/2019	83,709	-	-	4,577	-	1,710	89,996	85,450
LXTE	008/2008	169,853	9,661	-	-	-	-	179,514	170,447
LTTE	020/2011	47,958	8,035	-	6,782	16,317	6,461	85,553	81,231

8.3 Distribution of Piped Gas

8.3.1 Rate Adjustments

The rate value comprises: (i) the price of the molecule (impacted by the Brent crude price and the exchange rate); (ii) transportation, i.e. the cost to bring gas from the extraction and production points to the distribution grids; (iii) the escrow account arises from the temporary mismatch between the average cost of gas passed on by the utility to captive consumers through rates and the actual cost of gas incurred by the concession operator during the rate period; (iv) taxes (PIS/COFINS and ICMS); (v) and the distribution margin. The Rate Adjustment is made quarterly with the aim of passing on gas and transportation costs and to pass on the accumulated balance of the escrow account. The distribution margin is adjusted for inflation every August.

Regulatory Act	Effects	Term
		Start date	End
ARSP Decision 003, of 10/18/2023	Rate adjustment in non-thermal segment	11/01/2023	01/31/2024
ARSP Decision 001, of 01/18/2024	Rate adjustment in non-thermal segment	02/01/2024	04/30/2024
ARSP Decision 002, of 04/19/2024	Rate adjustment in non-thermal and thermal segment	05/01/2024	07/31/2024
ARSP Resolution 075, of 07/17/2024	Rate adjustment in non-thermal segment and distribution margin	08/01/2024	10/31/2024
ARSP Decision 003, of 10/21/2024	Rate adjustment in non-thermal segment	11/01/2024	01/31/2025
ARSP/DG Decision 002, of 01/21/2025	Rate adjustment in non-thermal segment	02/01/2025	04/30/2025
ARSP/DG Decision 004, of 04/16/2025	Rate adjustment in non-thermal and thermal segment	05/01/2025	07/31/2025
ARSP Resolution 091, of 07/31/2025	Rate adjustment in non-thermal segment and distribution margin	08/01/2025	10/31/2025

8.3.2 Rate-setting Reviews

The Ordinary Rate-Setting Review ("RTO") process aims to review the average distribution margin, considering the projected cost structure and market of the utility, incentives for efficiency and rate moderation, the investment plan, and the quality targets for the rate-setting cycle underway. It occurs every five (5) years. The new rate structure is in effect under ARSP Resolution 091, dated 10/31/2025, which set the average distribution margin at R$ 0.4702/m² excluding taxes.

1. Regulatory financial assets and liabilities (Electricity distribution) - Consolidated

	03/31/2026			12/31/2025
	Amounts undergoing amortization	Amounts being recorded	Total	Amounts undergoing amortization	Amounts being recorded	Total
Sector financial assets
Current	4,817	1,466,023	1,470,840	9,125	814,620	823,745
Noncurrent	-	605,696	605,696	-	892,356	892,356
	4,817	2,071,719	2,076,536	9,125	1,706,976	1,716,101
Sector financial liabilities
Current	273,507	42,719	316,226	575,878	177,357	753,235
Noncurrent	-	589,595	589,595	-	546,999	546,999
	273,507	632,314	905,821	575,878	724,356	1,300,234
Net balance of assets and liabilities	(268,690)	1,439,405	1,170,715	(566,753)	982,620	415,867
	Balance as of 12/31/2025	Operating revenue		Yield	Receipts/payments
---	---	---	---	---	---	---
		Addition	Amortization		Rate Tiers (1)	Others (4,1)
Items of Parcel A
Electricity purchased for resale	1,110,428	160,124	(65,793)	(4,964)	(65,178)	-
Transportation of electricity to national grid	252,116	52,542	(42,554)	1,422	-	-
Alternative Energy Sources Incentive Program - PROINFA	30,102	(18,499)	(12,221)	(1,064)	-	-
System Service Charges - ESS	(65,490)	36,419	(11,284)	1,025	28	-
Energy Development Account - CDE	629,387	218,188	(24,708)	8,131	-	-
Transportation of electric power - Itaipu	8,560	7,399	1,952	66	-	-
CCRBT Rate Tiers (1)	(159,287)	159,231	-	-	-	-
Financial components
Neutrality of Parcel A	54,402	(54,904)	(12,821)	(1,574)	-	-
Electricity overcontracting	99,668	167,017	(37,878)	(83)	(22,615)	-
Rate Returns (2)	(618,345)	(53,814)	19,000	(17,604)	-	-
CUSD	(856)	59	261	(13)	-	-
Submarket exposure	72,067	2,035	(9,356)	84	-	-
Financial guarantees	7,375	804	(1,906)	89	-	-
Recoverable balance	5,111	7,041	6,062	598	-	-
Deferral of Hydrological Risk (3)
Other financial items (4)	(1,009,371)	(134,484)	489,310	(1,610)	-	10,888
Net balance of assets and liabilities	415,867	549,158	298,064	(15,497)	(87,765)	10,888
	Balance as of 12/31/2024	Operating revenue		Yield	PIS/COFINs credit	Receipts/payments
---	---	---	---	---	---	---
		Addition	Amortization			Rate Tiers (1)
Items of Parcel A
Electricity purchased for resale	52,200	1,000,423	102,323	70,226	-	(114,744)
Transportation of electricity to national grid	242,363	189,657	(196,820)	16,916	-	-
Alternative Energy Sources Incentive Program - PROINFA	(8,469)	48,488	(12,476)	2,559	-	-
System Service Charges - ESS	159,602	(100,631)	(119,628)	(7,180)	-	2,347
Energy Development Account - CDE	(49,544)	646,196	(15,200)	47,935	-	-
Transportation of electric power - Itaipu	8,131	7,406	(7,223)	246	-	-
CCRBT Rate Tiers (1)	(151,741)	(7,546)	-	-	-	-
Financial components
Neutrality of Parcel A	(192,667)	78,139	163,075	5,855	-	-
Electricity overcontracting	220,146	200,823	(84,598)	9,793	-	(246,496)
Rate Returns (2)	(414,720)	(215,013)	68,750	(57,362)	-	-
CUSD	2,583	22	(3,436)	(25)	-	-
Submarket exposure	(5,816)	78,304	(6,935)	6,514	-	-
Financial guarantees	9,087	5,152	(7,405)	541	-	-
Recoverable balance	(11,801)	(399)	16,143	1,168	-	-
Deferral of Hydrological Risk (3)	60,816	-	(60,816)	-	-	-
Other financial items (4)	(910,901)	(906,562)	1,730,291	88,965	(662,433)	-
Net balance of assets and liabilities	(990,731)	1,024,459	1,566,045	186,151	(662,433)	(358,893)

(1) CCRBT Rate Tiers: since January 2015, the Rate Tier System has been implemented in electricity bills to balance short-term energy generation costs. ANEEL announces the activation of the rate tiers each month by regulatory order, and the funds collected may be fully or partially transferred to the CCRBT, depending on ANEEL's monthly orders.

The amounts received or passed through by subsidiaries on Rate Tiers in the period ended March 31, 2026, Centralizing Account of Rate Tier Funds – CCRBT, are shown below:

Company	03/31/2026		12/31/2025
	Received	Passed through	Received	Passed through
EMR	567	(72)	18,685	-
ESE	667	(3,083)	4,537	(19,139)
EPB	1,393	(7,332)	35,755	(12,510)
EMT	50,532	-	176,566	-
EMS	28,188	-	73,253	-
ESS	710	(4,792)	19,549	(1,449)
ETO	1,030	(711)	11,357	(1,226)
ERO	22,271	-	63,919	(1,404)
EAC	273	(1,876)	1,910	(10,910)
Total	105,631	(17,866)	405,531	(46,638)

(2) Rate returns: denotes revenue from surplus demand and surplus reactive energy revenue measured monthly by applying the variance of the Selic rate. For the electricity distribution subsidiaries that have already signed the new amendment to the Concession Agreement, these amounts will be recognized and amortized in the next rate reviewing process of the electricity distribution subsidiary (EAC, EMR, ETO, ESS, and ERO). For the electricity distribution subsidiaries that still operate under the previous rules of the Concession Agreement, these amounts are accumulated during the Rate-Setting Review (EMS, EMT, EPB and ESE).

(3) Hydrological Risk Deferral – ERO: on December 11, 2023, through Letter ENERGISARO/VPR ANEEL/No. 055/2023, ERO submitted a deferral proposal in the amount of R$ 57,800, which is being recognized monthly at the rate of 1/12 in profit or loss during the rate-setting cycle period. The amount was allocated as a financial component of Parcel A with the purpose of mitigating rate impacts for the period, and it will be reversed in the subsequent rate process, updated by the SELIC rate. Accordingly, in the rate-setting process carried out in December 2024, the reversal to the distributor of the restated amount of R$ 64,089 began, and its amortization was fully completed in December 2025.

(4) Other financial items: considered nonrecurrent and specific to the distribution companies, the main items being:

• Extraordinary Rate Review – RTE (ERO): On December 12, 2019, the subsidiary ERO submitted a request that, in the event its request for reconsideration were denied, a Periodic Rate-setting Review (RTE) be conducted instead of the annual rate adjustment scheduled for December 2020, including a full evaluation of its Regulatory Asset Base, where lower revenue was ratified that year. Technical Note 77/2024 – STR/ANEEL breaks down the calculation of this amount.

On March 25, 2025, ANEEL's executive board upheld ERO's request for reconsideration and launched a Public Consultation to gather additional input and information for applying the values related to ERO's RTE, as the merits of the request had been acknowledged. R$ 280,262 was recognized, of which R$ 176,871 was recorded as operating revenue (Sales to Consumers – Other Sector Financial Assets and Liabilities) and R$ 103,391 as finance revenue.

In December 2025, ANEEL approved the financial and economic adjustments associated with the RTE through Order 3,831/2025, with a total financial effect of R$ 377,174, of which R$ 227,980 was recorded as operating revenue (Sales to Consumers – Other Regulatory Financial Assets and Liabilities) and R$ 149,194 as finance income, and the subsidiary ERO accordingly restated the amounts recognized in March 2025.

In view of the potentially significant rate impact resulting from the full incorporation of the RTE into the 2025 adjustment, which could increase the average adjustment effect to around 27.93%, ANEEL evaluated alternatives to mitigate abrupt rate fluctuations for consumers. ERO accordingly submitted a proposal to soften the impact, suggesting the RTE's financial effects be partly absorbed into the 2025 adjustment.

As a result, ANEEL decided to apply to the 2025 Annual Rate Adjustment the full economic effect of the RTE and R$ 57,000 of the financial effect, already passed through in rates in the December 2025 process. The estimated remaining amount of R$ 320,174 was recorded as a regulatory asset to be recognized in subsequent rate-setting proceedings in order to ensure rate moderation. The amortization of this amount will follow fair rates.

• PIS and COFINS Credits: as per Law 14.385/2022, which regulated the returning of amounts related to the removal of ICMS from the PIS/COFINS base, ANEEL recognized in the rate-setting processes the amounts to be reverted to consumers, which are being recognized monthly on the basis of 1/12 in profit and loss. See below the amounts recognized in the latest rate-setting review of each subsidiary:

Company	Amounts recognized in the rate-setting processes
	12/31/2025
EMT	273,636
EMS	88,369
ESS	73,231
EMR	69,519
EPB	82,241
ESE	75,438
ERO(a)	(1)
Total	662,433

(a) Reversal of PIS/COFINS Credits (ERO): Given that the indirect subsidiary ERO returned, through rates, PIS/COFINS credits to consumers in an amount greater than what was offset with the Brazilian Federal Revenue Service, ANEEL included a financial component in the 2024 and 2025 rate-setting process to reverse the difference to the distributor via rates.

(4.1) Receipts/payments

Reversal of the Effect of Decree no. 10.665/2021 and DSP 417/2022 - Reversal Bonus Itaipu - the Financial Replenishment to the Itaipu trading account refers to the reversal of the negative deferral used in the 2021 rate-setting process, associated with the transfer made by the Itaipu trading account as per Decree 10.665/2021. This financial item was calculated as provided for in NT 247/2021. These amounts were recognized in the rate-setting processes of the DisCos' EMT, ESS and EMR. This amount paid by the DisCos' consumers that will replenish the Itaipu Trading Account are as follows:

Company	03/31/2026		12/31/2025
	Ratified amount	Amounts paid	Ratified amount	Amounts paid
EMT	-	-	-	71,650
ESS	-	10,890	43,551	18,146
EMR	-	-	-	14,472
Total (*)	-	10,890	43,551	104,268

(*) The approved amounts reflect the position as of the rate adjustment date, while the paid amounts correspond to the monthly settled amounts through the reporting date.

CDE	Moderation	Transfer	AXIA	Energia	(Eletrobras): funds contributed by AXIA Energia (Eletrobras) or its subsidiaries on account of being privatized, pursuant to CNPE Resolution 15 issued in 2021. The contributed amounts are linked to the transfer of the Moderation component of the Energy Development Account - CDE, to be transferred to electricity distribution concession operators and permit holders. The amounts approved by Aneel for the subsidiaries are presented below:
Company	Received Amounts
---	---
	Order 1.536/2025
EMT	5,297
EMS	3,079
ESS	2,322
ETO	1,491
EMR	1,047
EPB	3,109
ESE	1,744
ERO	2,186
EAC	736
Total	21,011

Application of Art. 2-G of Law 13.203/2015: Rate Moderation Transfer of Surpluses to the CDE: Under article 2-G of Law 13.203/2015, included by Law 15.269/2025, surplus amounts from the centralized competitive mechanism destined for the Energy Development Account (CDE) were used in 2025 in the period ended December 31, 2025 for rate moderation for consumers in the regulated market of distributors in the North Region whose rate-setting processes had not yet been approved by ANEEL.

The amounts originated from the surplus (premium) of the tenders held on August 01, 2025, as informed by the Electricity Trading Chamber (CCEE), duly restated.

Within the scope of the 2025 Annual Rate Adjustment, the amount was allocated to Energisa Rondônia (ERO) and Energisa Acre (EAC), and was fully applied to rate reduction. This is a pass-through applied in the rate-setting process, with a direct and favorable impact on the rate moderation of regulated consumers under these concessions.

Company	Amounts received
EAC	110,514
ERO	321,474
Total	431,988

10. Other receivables

(1) Subrogation to CCC - the indirect subsidiary EMT was classified in the subrogation of the right to use the Fuel Consumption Account - CCC due to the implementation of electricity ventures that led to a decrease in the CCC expense, which helped secure rates for end consumers. The following ventures with outstanding receivables were approved to calculate the benefit:

Project	Status	Amount invested	Amount subrogated	Received	Restatement	Receivable
						03/31/2026	12/31/2025
Paranorte Transmission System	in service	6,697	4,915	4,840	1,197	1,271	1,439
Guariba Transmission System	in service	110,006	57,795	27,160	21,987	52,622	54,278
Total		116,703	62,710	32,000	23,184	53,893	55,717
Current						7,072	7,770
Noncurrent						46,821	47,947

(2) CCC reimbursement (acquisition of energy for the islanded system): the reimbursement rights corresponding to the energy acquisition costs in Islanded Systems and Bilateral Contracts, which are paid for by the CDE-CCC Fund, managed by Electricity Trading Chamber- CCEE, which once approved are passed through to subsidiaries and used to settle corresponding amounts owed to the suppliers involved in the process. See the changes occurring in the period/year:

	EMT	ERO	EAC	Total
Balances at 12/31/2024 - current	3,510	3,036	48,618	55,164
Provision (*)	21,379	34,075	96,390	151,844
Receipt	(20,850)	(34,357)	(137,095)	(192,302)
Balances at 12/31/2025 - current	4,039	2,754	7,913	14,706
Provision (*)	5,061	8,019	23,272	36,352
Receipt	(4,549)	(8,050)	(25,091)	(37,690)
Balances at 03/31/2026 - current	4,551	2,723	6,094	13,367

(*) Includes financial restatement amounts due to the reprocessing of balances.

(3) O&M cost reimbursement: denotes the reimbursement of Operation and Maintenance costs for SIGFI (Individual Intermittent Source Energy Generation Systems) and MIGDI (Microsystem for Isolated Generation and Distribution of Electricity), in accordance with the rules established in ANEEL Normative Resolution No. 1.016/2022. These systems are intended to supply electricity to islanded or hard-to-reach areas and, in many cases, use renewable and intermittent sources. See the changes occurring in the period/year:

	EMT	ETO	ERO	EAC	Total
Balances at 12/31/2024 - current	2,916	-	4,039	9,182	16,137
Provision	26,733	30,783	28,554	86,206	172,276
Receipt	(25,350)	(28,188)	(27,950)	(80,323)	(161,811)
Balances at 12/31/2025 - current	4,299	2,595	4,643	15,065	26,602
Provision	6,175	3,350	6,398	23,896	39,819
Receipt	(5,609)	(3,318)	(5,974)	(20,796)	(35,697)
Balances at 03/31/2026 - current	4,865	2,627	5,067	18,165	30,724

(4) Low-Income Subsidy: refers to the subsidy granted to the low-income residential class, which, according to Law 15.235/2025, includes families registered in CadÚnico with a per capita monthly income of up to half the minimum wage, as well as Indigenous and Quilombola families who receive a one-time 100% discount on consumption equal to or less than 80 kWh. This revenue is paid for with funds from the RGR – Global Reversal Reserve and the CDE – Energy Development Account, both administrated by the Electricity Trading Chamber – CCEE. The balance denotes the provisions for February and March 2026, with estimated receipts for the next quarter, following ANEEL's revision. As per historic data, Management does not expect to record any realization losses.

See the changes occurring in the period/year:

	EMR	ESE	EPB	EMT	ETO	EMS	ESS	ERO	EAC	Total
Balances at 12/31/2024 - current	6,524	12,790	29,527	14,969	10,564	15,830	5,045	7,234	5,994	108,477
Subsidies	48,162	108,284	236,848	106,415	86,501	110,341	39,931	55,453	45,658	837,593
Reimbursements	(44,498)	(98,422)	(212,508)	(99,295)	(78,502)	(104,055)	(36,451)	(51,398)	(41,910)	(767,039)
Balances at 12/31/2025 - current	10,188	22,652	53,867	22,089	18,563	22,116	8,525	11,289	9,742	179,031
Subsidies	14,103	33,659	81,096	30,192	25,456	30,620	11,923	16,805	14,241	258,095
Reimbursements	(14,700)	(33,874)	(84,173)	(31,707)	(26,641)	(31,845)	(12,294)	(16,554)	(14,338)	(266,126)
Balances at 03/31/2026 - current	9,591	22,437	50,790	20,574	17,378	20,891	8,154	11,540	9,645	171,000

(5) CDE Subsidy – Rate discounts: denote CDE (Energy Development Account) subsidies to cover the discounts applied to the rates for users of the public electricity distribution service, such as: Incentivized Load Source; Incentivized Generation Source; Water, Sewage, and Sanitation; Rural; Irrigator/Aquaculturist; and Electricity Compensation System – SCEE. The amounts are recognized monthly according to benefits passed through to consumers and charged to the statement of profit or loss for the period – operational revenue, while CCEE reimbursements take place in monthly payments (1/12) ratified during the rate-setting review cycles. The balances denote subsidies incurred, less payments received. Differences are included in the annual calculations.

See the changes occurring in the period/year:

	EMR	ESE	EPB	EMT	ETO	EMS	ESS	ERO	EAC	Total
Balances at 12/31/2024 - current	19,278	20,997	30,895	206,198	40,216	167,356	45,894	68,232	16,798	615,864
Subsidies	117,716	102,916	175,796	870,262	210,790	546,283	209,885	186,861	45,880	2,466,389
Reimbursements	(98,805)	(94,760)	(145,971)	(741,436)	(169,883)	(513,802)	(190,141)	(161,777)	(37,837)	(2,154,412)
Balances at 12/31/2025 - current	38,189	29,153	60,720	335,024	81,123	199,837	65,638	93,316	24,841	927,841
Subsidies	32,114	28,295	46,393	228,600	53,193	170,326	61,215	57,060	17,685	694,881
Reimbursements	(31,449)	(27,111)	(52,216)	(225,423)	(56,584)	(162,387)	(61,063)	(68,680)	(18,862)	(703,775)
Balances at 03/31/2026 - current	38,854	30,337	54,897	338,201	77,732	207,776	65,790	81,696	23,664	918,947

(6) Bonus – Reimbursement from the CDE Fund: balance receivable by the electricity distribution subsidiaries, related to the Program encouraging voluntary reduction in electricity consumption introduced by Resolution 2 of August 31, 2021 by the Chamber of Exceptional Rules for Hydroenergy Management operating under the auspices of the Ministry of Mines and Energy.

(7) Other credits receivable from Centrais Elétricas do Pará – CELPA are amounts net of AVP that Rede Energia and the indirect subsidiaries EMT, ETO, EMS and ESS have receivable from Centrais Elétricas do Pará S/A – CELPA under related-party transactions, up to the date of sale to Equatorial Energia S/A on September 25, 2012. The subsidiaries' balance receivable is restated monthly at a capitalized interest rate of 6% per annum. The principal will be received in semi-annual amortizations under the following conditions: (i) March 2027 to September 2030, amortization of 5% p.a., (ii) March 2031 to September 2033, amortization of 10% p.a. and (iii) the remaining balance of 50% will be realized in September 2034. The interest has been received semi-annually since September 2019.

(8) Third-party accounts receivable - denotes third-party credits for mutual use of poles, including R$ 16,134 (R$ 13,824 as of December 31, 2025) as a provision for scrap losses and sales.

(9) Reinvestment deposit - tax incentives - reinvestment benefits of 30% of the income, which the electricity distribution subsidiaries can use to reinvest in their own operating ventures in SUDAM/SUDENE jurisdictions, in areas of the economy given priority status for regional development.

Company	Board	No. of Constitutive Report	Term	Balance at 12/31/2025	Restatement interest	Deposit 03/31/2026	Balance at 03/31/2026
EMT	SUDAM	0176/2023	01/01/2023 to 12/31/2032	85,989	2,934	13,846	102,769
ETO (*)	SUDAM	0150/2023	01/01/2023 to 12/31/2032	13,911	474	9,118	23,503
EAC (**)	SUDAM	018/2021	01/01/2021 to 12/31/2030	-	-	909	909
EPB (***)	SUDENE	0020/2020	01/01/2020 to 12/31/2029	-	-	9,378	9,378
ESE (***)	SUDENE	0043/2023	06/22/2023 to 12/31/2028	-	-	6,930	6,930
TOTAL				99,900	3,408	40,181	143,489

ETO () Redemption of AC 2021 Reinvestment - Refers to the release of funds as per Official Letter No. 309/2025-DGFAI
EAC () Redemption of AC 2021 Reinvestment - Refers to the release of funds as per Official Letter No. 65/2025-DGFAI
EAC () Redemption of AC 2021, AC 2022, AC 2023 and AC 2024 Reinvestment - Refers to the release of funds as per Official Letter No. 4053/2025/SIBF/SUDENE
ESE (*) Redemption of AC 2023 Reinvestment - Refers to the release of funds as per Official Letter No. 2366/2025/SIBF/SUDENE

(10) INERGUS funds - denotes funds advanced by the subsidiary ESE to Instituto Energipe de Seguridade Social ("INERGUS") to guarantee the liquidity and financial flow from the BD-1 Plan. Such advances result from court decisions that stay the collection of extraordinary contributions from participants and beneficiaries. The movement in the period ended March 31, 2026 is mentioned in note 32 Post-employment benefits.

(11) Denotes credits assigned to the FIDC, as disclosed in note 3, the consolidated amount recorded is net of expected losses.

(12) EnergisaPrev - Fundação Energisa de Previdência - Fundo Previdenciário Patronal - consists of the portion of employer contributions not received by participants opting to redeem the plan, in pension plans that have some form of restriction on this redemption of employer contributions. Its balance also includes funds from Plan migration processes. The Employer Fund is being used to offset the sponsor's contributions. The remaining balance is R$ 11,850 as of March 31, 2026 (R$ 12,523 as of December 31, 2025).

(13) Other - at the parent company this includes R$ 20,318 (R$ 18,694 as of December 31, 2025) denoting related-party transactions for endorsement commission services provided, eliminated during consolidation.

11. Related-party transactions

The Company is directly controlled by Gipar S/A (27.79% of the total capital), which in turn is controlled by Nova Gipar (100% of the total capital). The latter is controlled by Itacatu S/A (66.51% of the total capital) and by Multisetor S/A (33.49% of the total capital). Itacatu S/A is controlled by Multisetor S/A (72.15% of the total capital). Multisetor is controlled by Mr. Ivan Muller Botelho (70.57% of the voting stock).

The related-party balances are as follows:

Parent company	03/31/2026		12/31/2025
	Assets	Liabilities	Assets	Liabilities
Clients, consumers, concession and Other operators - specialized services	73,160	-	77,246	-
Sharing	8,936	-	10,021	-
Other Receivables - Endorsement and guarantee commission	20,318	-	18,694	-
Money market and secured funds - Debentures (1)	6,261,451	-	6,153,279	-
Loans:
. CTCE (2)	7,316	-	7,085	-
. CTCE (3)	99,367	-	95,169	-
. REDE (3) and (4)	211,797	-	202,383	-
. DENERGE (2)	73,515	-	71,199	-
. ETE (2)	6,337	-	6,137	-
. EDG (2)	62	-	60	-
Total - noncurrent	398,394	-	382,033	-
Investments - Funds allocated to future capital increase (5):
. SOBRADINHO	680	-	560	-
. EGCE-BE	2	-	1	-
. EGCE-MA	9	-	1	-
. EGCE-AL	2	-	1	-
. EGCE-UM	2	-	1	-
. ETE	676,190	-	646,930	-
. ESEA	1,200	-	1,200	-
. EBG	60,875	-	37,035	-
. ECOM	25,000	-	25,000	-
. EDG	180,000	-	180,000	-
. EPNE	770	-	770	-
. COREMAS	100	-	100	-
	944,830	-	891,599	-
Total	7,707,089	-	7,532,872	-

(1) These are private debentures issued by the electricity DisCo subsidiaries acquired by the Company.
(2) Loans - loans have a term of 24 months, which can be extended for equal and successive periods. Related-party loans are charged interest at the average borrowing rate, which in the period was an average of CDI + 1.0640% p.a. (CDI + 1.1144% p.a. as of December 31, 2025), except for ECOM, which incurs interest of CDI + 2.65% p.a. (CDI + 2,65% p.a. as of December 31, 2025)

Subsidiaries	Rate	Maturity
CTCE	Weighted average of interest on loans taken out by Group companies + variance of the CDI rate	09/12/2026
EDG	Weighted average of interest on loans taken out by Group companies + variance of the CDI rate	08/06/2026
ETE	Weighted average of interest on loans taken out by Group companies + variance of the CDI rate	12/30/2026
DENERGE	Weighted average of interest on loans taken out by Group companies + variance of the CDI rate	05/01/2026
ECOM	CDI interest + 2.65 p.a.	06/25/2026

(3) Acquisition of credits assigned under the judicial recovery process of the indirect subsidiaries.
(4) The credits receivable of Rede Energia Participações S/A, acquired from the creditors, will be paid initially by the company undergoing reorganization on the following conditions: (i) amount equal to 25% of the total credits assigned will be paid in a lump sum within up to 1 year of the date this assignment is paid, incurring interest of 12.5% p.a. as from the date the assignment is made; and (ii) remaining amount equal to 75% of the total credits assigned will be paid after 22 years in a lump sum with capitalized interest of 0.5% p.a. due as from the date the assignment is paid. In 2014 the parties agreed to extend the maturity of the lump sum maturing in July 2015 by 10 years, corresponding to 25% of the total debt amount. However, the term is maintained of 22 years for payment of the remaining amount equal to 75% of the total debt with capitalized interest of 0.5% per annum, due as from the date of payment. At the end of FY 2017 the parties renegotiated the debt by applying interest equal to the CDI rate + 2% per annum with semiannual amortization payable on June and December 26 each year;
(5) The funds intended for future capital increase are not remunerated and are recorded under investments. The subsidiaries' capital increases were fully paid by the Company by capitalizing credit balances resulting from the future capital increase advances.

Transactions conducted in the period/year by the Company and its subsidiaries:

Direct and indirect subsidiaries	Administrative services provided (1)	Sharing (2)	Restatement of loans/commission endorsement and yield on finance income (cost) securities (3)	Balance receivable (Receivables, consumers, concession operators and other)	Balance receivable Endorsement commission and debentures (4)
.EMR	6,158	893	14,086	4,368	441,480
.EPB	12,830	1,873	16,238	11,875	409,176
.ESE	7,382	1,739	12,760	5,946	357,833
.ESOL	1,279	-	-	740	-
.EMT	22,988	7,699	31,697	18,602	501,448
.EMS	13,794	4,103	24,686	10,880	539,649
.ETO	9,104	2,732	28,789	7,028	895,772
.ESS	9,206	1,785	14,372	6,758	375,991
.ESOLC	554	-	-	368	-
.CTCE	-	-	4,427	-	-
.MULTI	602	-	-	336	-
.EPLAN	8	-	-	10	-
.ECOM	762	-	-	590	-
.EGUM	12	-	-	8	-
.REDE	-	-	9,414	-	-
.ERO	10,156	3,469	59,592	8,330	1,892,750
.EAC	4,361	1,692	18,055	3,475	603,163
.EPA I	167	30	404	102	139
.EGO I	141	25	-	96	-
.EPA II	154	45	511	113	175
.ETT	298	90	716	221	246
.DINAMICA	-	-	-	2	-
.DENERGE	-	-	2,297	-	-
.ALSOL	1,796	-	-	1,179	-
.VOLTZ (4)	(3,723)	-	-	543	-
.EAM	254	125	1,992	210	53,851
.ETT II	67	6	-	70	-
.EAP	74	15	3,413	53	107,365
.ETE	-	-	3,561	-	100,730
.EPT	92	4	-	56	-
.EAM II	66	11	-	45	-
.LMTE	635	157	-	375	-
.LXTE	660	159	-	392	-
.LTTE	288	77	-	214	-
.EGCS-RP1	56	17	-	35	-
.EGCS-RP2	33	15	-	25	-
.ESGAS	2,228	-	-	10,245	-
.EDG	30	-	2	35	-
.EBIO	24	-	-	16	-
.EMA	49	-	-	42	-
.ÁNGULO 45 EMPR	49	-	-	49	-
.CLARKE	-	-	71	-	2,001
.LUREAN	7	-	-	3	-
	03/31/2026	102,641	26,761	247,083	93,435
	12/31/2025	-	-	-	98,764
	03/31/2025	101,515	27,921	195,381	-

(1) Shared administrative services - denotes the provision of administrative services supplementing procurement, human resources, administrative infrastructure, finance, accounting and invoicing processes. The costs are referenced to the company benchmark model used by the ANEEL regulated department for rate purposes. The sharing agreement was approved by Aneel and signed on May 31, 2022 for a term of 60 months and can be renewed subject to contractual amendment.

Software licensing and IT services - service provision agreement signed on April 11, 2022 and expiring on April 10, 2027 in the total amount of R$ 865,212, for the 60-month period, consisting of: (i) IT infrastructure (IT) and contingency services; (ii) cyber security and compliance services; (iii) commercial systems maintenance and licensing and BI (Business Intelligence); (iv) systems implementation service and support services for commercial and BI systems; (v) ERP systems maintenance and licensing; (vi) systems implementation service and (vii) providing support services for ERP Systems. The operation was procured reflecting conditions in place at the time, in accordance with good market practices with the prior consent of the National Electricity Regulatory Agency - ANEEL via Order 812 on March 24, 2022;

(2) Shared services agreement - a cost-sharing, infrastructure and human-resource sharing agreement was signed on March 29, 2022 between Energisa Group companies, maturing on March 28, 2027, for the period of 60 months. The operation was procured reflecting conditions in place at the time, in accordance with good market practices and the prior consent of the National Electricity Regulatory Agency - ANEEL via Order 834 on March 25, 2022;

(3) This denotes the interest costs on loans entered into with the subsidiaries for the period ended March 31, 2026, comprising the respective balances of each loan.

(4) The subsidiary VOLTZ provided factoring services to the suppliers providing services to the Energisa Group subsidiaries. In the period ended March 31, 2026, the balance of services provided was R$ 4,304 (R$ 1,294 as of March 31, 2025), and the balance of services contracted was R$ 581 (R$ 270 as of March 31, 2025). There was no balance receivable in the period ended March 31, 2026 and the balance payable was R$ 543 (R$ 665 as of December 31, 2025).

(5) Consists of subsidiaries' debentures acquired by the Company.

D&O compensation

	Parent company		Consolidated
	03/31/2026	03/31/2025	03/31/2026	03/31/2025
Annual compensation (1)	7,398	13,281	121,361	107,667
Compensation of the Board of Directors and Oversight Board members	870	948	1,667	1,886
Executive Board compensation	425	379	8,471	8,879
Other benefits (2)	1,308	916	9,718	7,996

(1) Denotes the overall limit on the annual compensation of directors and officers for 2026 which was approved at the EGM/AGM held April 29, 2026.

(2) It includes payroll charges and private pension, health care and life insurance benefits.

The highest and lowest compensation attributed to directors and officers for March 31, 2026 was R$ 129 and R$ 1 for the parent company and R$ 165 and R$ 6 in the consolidated statement (R$ 114 and R$ 1 for the parent company and R$ 136 and R$ 1 in the consolidated statement as of March 31, 2025) respectively. The average compensation in the period ended March 31, 2026 was R$ 30 at the parent company and R$ 46 in the consolidated statement (R$ 27 at the parent company and R$ 48 in the consolidated statement as of March 31, 2025).

Variable compensation program (Long-term incentive plan - ILP)

The Company and its subsidiaries offer their executives a plan (ILP). This plan aims to (i) align the interests between shareholders and executives (ii) promote meritocracy (iii) retain highly performing executives (iv) encourage sustainable results and achieve corporate targets, while sharing value created. The benefit is aimed at the Company and its subsidiaries' executives and will be paid in Units of the parent company Energisa S/A up to the established limit of 0.5% of the Company's share capital, on the date the plan is approved, based on a value defined for each level taking into account individual performance, to be established in the share grant agreement and each individual's performance, according to each executive's scope. The Company approved this plan at the Annual and Extraordinary General Meeting held April 25, 2018 and its regulations were approved by the Board of Directors on May 10, 2018.

The Company and its subsidiaries currently have three stock (units) option programs in progress: (i) Program 6, which is divided into two, the first being Restricted Shares (Matching), started in December 2023, and the second Performance Shares, the latter started in October 2023, both with the end of the vesting period expected in May 2026, (ii) Program 7, which is divided into four, three being Restricted Shares (Matching, Extraordinary and Matching Leaders) and the fourth being Performance Shares, both started in May 2024, both with the end of the vesting period expected in May 2027 and (iii) Program 8, which is divided into five, three being Restricted Shares (Matching, Extraordinary and Matching Leaders) and two being Performance Shares, both started in May 2025, both with the end of the vesting period expected in May 2028.

The 6th, 7th and 8th Programs are linked to the performance conditions Relative Total Shareholder Return (TSR) and Share Price Appreciation (ENGI11), by the end of the vesting period can modify the outcome of the program, depending on achievement.

The 6th, 7th and 8th Restricted Shares Program is indexed to the fulfillment of purchasing a certain amount of ENGI11 units and, after the vesting period, if there has been no movement in the units by the participant, they will receive the transfer of the same number of units purchased (1:1), meaning for every 1 (one) unit acquired, the beneficiary will also receive 1 (one) unit, along with any additional units granted to eligible beneficiaries.

ENERGISA GROUP
7

The fair value was determined using the following assumptions:

	Restricted Shares Program			Performance Shares Program			Extraordinary Program		Matching Program
	Award 6	Award 7	Award 8	Award 6	Award 7	Award 8	Award 7	Award 8	Award 7	Award 8
Calculation Method	Last auction	Last auction	Last auction	Monte Carlo	Monte Carlo	Monte Carlo	Last auction	Last auction	Last auction	Last auction
Total share (units) options awarded	57,279	66,316	77,897	57,279	66,316	77,897	36,940	43,666	10,990	14,429
Stock options (units) expired	5,990	6,583	3,336	5,929	6,557	3,336	2,543	-	-	-
Date approved by the Board of Directors	09/27/2023	05/08/2024	05/08/2025	09/27/2023	05/08/2024	05/08/2025	05/08/2024	05/08/2025	05/08/2024	05/08/2025
Vesting commencement date	12/11/2023	05/18/2024	05/12/2025	10/30/2023	05/09/2024	05/12/2025	05/18/2024	05/12/2025	06/01/2024	05/12/2025
Vesting period	2 years and 5 months	3 years	3 years	2 years and 5 months	3 years	3 years	3 years	3 years	3 years	3 years
Risk-free interest rate	N/A	N/A	N/A	0.1109	0.1097	0.1347	N/A	N/A	N/A	N/A
Projected interbank deposits - DI	N/A	N/A	N/A	DI1J2026	DI1J2027	DI1J2028	N/A	N/A	N/A	N/A
Volatility (1)	N/A	N/A	N/A	0.2803	0.2728	0.2673	N/A	N/A	N/A	N/A
Fair value at grant date	51.75	46.79	45.05	44.11	48.56	41.38	46.79	45.05	45.71	45.05
Movement	In operation	In operation	In operation	In operation	In operation	In operation	In operation	In operation	In operation	In operation
	Consolidated
---	---	---	---	---	---	---	---	---	---	---
	Restricted Shares Program (Matching)			Performance Shares Program			Extraordinary Program		Restricted Shares Program (Matching Lideres)
	Award 6	Award 7	Award 8	Award 6	Award 7	Award 8	Award 7	Award 8	Award 7	Award 8
Calculation Method	Last auction	Last auction	Last auction	Monte Carlo	Monte Carlo	Monte Carlo	Last auction	Last auction	Last auction	Last auction
Total share (units) options awarded	211,056	239,506	300,569	211,056	239,506	300,569	109,154	163,683	39,707	51,724
Stock options (units) expired	21,227	18,820	3,336	20,858	18,745	3,336	14,124	1,613	1,323	-
Date approved by the Board of Directors	09/27/2023	05/08/2024	05/08/2025	09/27/2023	05/08/2024	05/08/2025	05/08/2024	05/08/2025	05/08/2024	05/08/2025
Vesting commencement date	12/11/2023	05/18/2024	05/12/2025	10/30/2023	05/09/2024	05/12/2025	05/18/2024	05/12/2025	06/01/2024	05/12/2025
Vesting period	2 years and 5 months	3 years	3 years	2 years and 5 months	3 years	3 years	3 years	3 years	3 years	3 years
Risk-free interest rate	N/A	N/A	N/A	0.1109	0.1097	0.1347	N/A	N/A	N/A	N/A
Projected interbank deposits - DI	N/A	N/A	N/A	DI1J2026	DI1J2027	DI1J2028	N/A	N/A	N/A	N/A
Volatility (1)	N/A	N/A	N/A	0.2803	0.2728	0.2673	N/A	N/A	N/A	N/A
Fair value at grant date	51.75	46.79	45.05	44.11	48.56	41.38	46.79	45.05	45.71	45.05
Movement	In operation	In operation	In operation	In operation	In operation	In operation	In operation	In operation	In operation	In operation

(1) Volatility and correlation between the share prices (of Energisa S/A and competitors included in the IEE (Electricity Index and its peers) for the Total Shareholder Return (TSR)) were calculated based on historic values one year prior to the program's grant date.

There are no exercisable or expired options as of March 31, 2026 for programs in operation.

Due to the specific features of the Company's long-term incentive plan mentioned above, there is no strike price or exercise limit.

Pursuant to IFRS 2/CPC 10, the Company and its subsidiaries determine the fair value of restricted (units) subject to performance conditions (Performance Shares) awarded based on the Monte Carlo model to permit the grace period conditions be factored into the asset's fair value. The expense is recognized on a "pro rata temporis" basis, which begins at the grant date until the date of the beneficiary acquires the right to receive the shares (units).

In the period ended March 31, 2026, R$ 7,051 (R$ 4,904 as of March 31, 2025) was recognized under the Share Option Grant Plan in consolidate profit or loss for the period under operating costs and expenses - Variable compensation program (ILP), with R$ 1,900 (R$ 1,551 as of March 31, 2025) consolidated and R$ 5,151 (R$ 3,353 as of March 31, 2025) for the subsidiaries. The amount recognized as a capital reserve in accumulated equity as of March 31, 2026 was R$ 54,696 (R$ 48,155 as of December 31, 2025).

12. Tax credits, deferred taxes and current income tax and social contribution expenses

The Company and its subsidiaries have tax credits arising from tax loss carryforwards and negative social contribution bases not recognized in the quarterly financial statements in the amount of R$ 1,050,581 at the parent company and R$ 2,929,165 on a consolidated basis due to the absence of an expectation of generating sufficient future taxable profits for their realization within the projection horizon considered.

The deferred taxes have the following nature:

	Parent company
	03/31/2026		12/31/2025
	Calculation basis (*)	IRPJ + CSLL	Calculation basis (*)	IRPJ + CSLL
Assets/Liabilities
Financial instruments - share purchase options (*)	(169,057)	(57,479)	(131,728)	(44,788)
Gain or loss made on business combination (*)	(818,693)	(278,356)	(818,693)	(278,356)
Mark-to-market of debt and derivatives (*)	(127)	(43)	(53)	(18)
Other temporary differences	(2,828)	(962)	(3,033)	(1,031)
Total - noncurrent liabilities	(990,705)	(336,840)	(953,507)	(324,193)

(*) calculation base less the tax limit of 30%.

	Consolidated
	03/31/2026		12/31/2025
	Calculation basis (a)	IRPJ + CSLL	Calculation basis (a)	IRPJ + CSLL
Assets/Liabilities
Tax loss/negative social contribution base	5,990,792	2,036,869	5,982,191	2,033,945
Allowance for doubtful accounts - PECLD	1,105,114	375,739	1,061,255	360,827
Mark-to-market - derivatives	1,122,019	381,486	87,408	29,719
Provision for judicial and administrative litigation	451,760	153,598	457,614	155,589
Other provisions (attorneys' fees and other)	428,252	145,606	456,294	155,140
Provision for actuarial adjustments	230,295	78,300	271,890	92,443
Tax credits - goodwill (1)	88,100	29,954	94,053	31,978
Intangible assets - surplus value (2)	(5,848,761)	(1,988,579)	(5,896,670)	(2,004,868)
Portion of VNR - concession financial asset and restatement (3)	(4,224,431)	(1,436,307)	(3,978,617)	(1,352,730)
Contract asset - public services concession	(2,021,184)	(687,202)	(1,935,644)	(658,119)
Adjustment to present value (AVP) (4)	(1,971,954)	(670,464)	(1,977,594)	(672,382)
Gain or loss made on business combination (*)	(1,007,630)	(342,594)	(1,007,630)	(342,594)
Mark-to-market - debt securities	(939,658)	(319,484)	(88,797)	(30,191)
Provision for IRPJ and CSLL on capitalized charges	(247,337)	(84,095)	(232,482)	(79,044)
Financial instruments - share purchase options (*)	(169,057)	(57,479)	(131,728)	(44,788)
Revaluation reserve charges	(17,502)	(5,951)	(20,008)	(6,803)
Other temporary differences	66,958	22,766	74,638	25,376
Total	(6,964,224)	(2,367,837)	(6,783,827)	(2,306,502)
Total Noncurrent Assets	9,483,290	3,224,318	8,338,500	2,835,091
Total - Noncurrent Liabilities	(16,447,514)	(5,592,155)	(15,122,327)	(5,141,593)

(*) calculation base less the tax limit of 30%.

(1) The tax credits - goodwill - of R$ 29,954 (R$ 31,978 as of December 31, 2025) are being realized over the remaining term of the subsidiary EPB' concession term by the straight-line method.

(2) Intangible assets - surplus value - includes deferred income tax and social contribution on the goodwill attributed to the concession value calculated in the business combination, less realized amortization in the period of R$ 47,909.

(3) This denotes income tax and social contribution payable on the portion of the concession financial asset - VNR recognized by the subsidiaries EMR and ESS, which as a result of having signed the new amendments to the concession agreements extending the concession term to 2045, ERO and EAC, which also signed the new concession agreement amendments, had their concessions extended until 2048 and ETO until 2049, respectively and transferred the balance of the concession financial asset determined up to the signature of these amendments to intangible assets to be amortized over the remaining useful life of the assets in accordance with the new concession term, which will result in the realization of the deferred credits to be realized under the amortization.

(4) Adjustment to present value - basically denotes the value recorded by the subsidiaries DENERGE, REDE and CTCE, for the credits of the creditors who entered the Judicial Recovery Plan.

The realization of deferred tax assets is projected as follows:

Years	Consolidated
2026	100,120
2027	164,351
2028	183,982
2029	202,650
2030	203,583
2031 to 2033	676,252
2033 onwards	1,693,380
Total	3,224,318

GROUP ENERGISA

The income tax and social contribution amounts which affected the earnings for the period, in addition to changes in tax credits, are stated below:

	Pre-1st constant
	03/31/2026	03/31/2025
Profit/loss before tax on profit	478,344	813,927
Combined nominal tax bracket	34%	34%
Income tax and social contribution calculated at the total nominal tax brackets	(162,637)	(276,735)
Adjustments:
Share of profit (loss) of equity-accounted investees	188,006	275,410
Tax credits not recorded in the period	(37,471)	(36,425)
Non-deductible expenses (donations, free gifts, fines etc)	(5)	(399)
Other adjustments	(610)	(42)
Income tax and social contribution	(12,717)	(38,191)
Effective rate	2.66%	4.69%
	Consolidated
---	---	---
	03/31/2026	03/31/2025
Profit/loss before tax on profit	788,949	1,297,722
Combined nominal tax bracket	34%	34%
Income tax and social contribution calculated at the total nominal tax brackets	(268,243)	(441,225)
Adjustments:
Share of profit (loss) of equity-accounted investees	13,389	13,029
Tax incentives – 75% reduction in IRPJ and surcharges and reinvestment deposit (SUDENE) (1)	31,862	40,858
Tax incentives – 75% reduction in IRPJ and surcharges and reinvestment deposit (SUDAM) (1)	54,544	143,642
Tax credits not recorded in the period	(79,938)	(78,999)
Net tax credits recorded in the period	2,889	11,104
Tax incentives – Technological research, development and innovation (2)	3,017	3,386
Tax incentive – Other (3)	12,429	12,153
Selic interest on recovered overpaid taxes (4)	3,489	1,238
Effect of presumed profit of subsidiaries	10,130	30,966
Non-deductible expenses (donations, free gifts, fines etc)	(1,226)	(5,873)
Credits on overpaid taxes and other (4)	13,709	3,668
Other adjustments	(10,230)	(4,954)
Income and social contribution taxes on profit	(214,179)	(271,007)
	27.15%	20.88%

(1) The Group's subsidiaries, located in regions covered by the Amazonian Development Agency (Superintendência do Desenvolvimento da Amazônia - SUDAM) and the Northeast Development Agency - SUDENE, utilize the following tax incentives:

a) a fixed reduction of 75% in income tax and non-refundable additional charges, legal basis: article 13 of Law 4.239, dated June 27, 1963; article 23 of Decree-Law 756, dated August 11, 1969; Decree-Law. 1.564, dated June 29, 1977; Article 3 of Law 9.532, dated December 10, 1997; Article 1 of Provisional Measure 2.199-14, dated August 24, 2001; Article 1 of Law 13.799, dated January 3, 2019; Decree 4.212, dated April 26, 2002; and Decree 6.539, dated August 18, 2008;

b) reinvestment deposit, legal grounds: article 3 of Provisional Measure 2.199-14, dated August 24, 2001; article 1 of Law 13.799, dated January 3, 2019; Decree 4.212, dated April 26, 2002; article 2 (I) of Law 9.532, dated December 10, 1997; article 1 (II) and article 19 of Law 8.167, dated January 16, 1991; article 23 of Law 5.508, dated October 11, 1968; and article 29 of Decree-Law 756, dated August 11, 1969.

Following this, the validity of the construction reports is shown, along with the incentives recognized by the subsidiaries:

Company	Board	No. of Constitutive Report	Term	75% reduction	Deposit for Reinvestments (30%)	03/31/2026	12/31/2025
EPB	SUDENE	0020/2020	01/01/2020 to 12/31/2029	7,223	6,252	13,475	100,458
ESE	SUDENE	0438/2018	01/01/2018 to 12/31/2027	13,804	4,584	18,388	68,089
EMT	SUDAM	0176/2023	01/01/2023 to 12/31/2032	5,152	9,221	14,373	113,376
ETO	SUDAM	0150/2023	01/01/2023 to 12/31/2032	18,260	6,075	24,335	105,941
LMTE	SUDAM	0069/2018	01/01/2018 to 12/31/2027	2,235	-	2,235	4,548
LXTE	SUDAM	0204/2018	01/01/2018 to 12/31/2027	-	-	-	5,744
EAC	SUDAM	0018/2021	01/01/2021 to 12/31/2030	5,754	605	6,359	10,074
ERO	SUDAM	0065/2021	01/01/2021 to 12/31/2030	7,241	-	7,241	73,863
				59,669	26,737	86,406	482,093

(2) Denotes investments made in technological research, development and innovation projects under Law 11.196/2005.

(3) Essentially consists of other tax incentives used by the subsidiaries, such as the PAT (Workers' Meal Program), Arrears Charges, Cultural Donations/Sponsorship, Law 8.313/91 and Sporting Projects, Law 11.438/2006.

(4) Recognition of IRPJ and CSLL tax credits on Selic interest on tax overpayments: until the 2023 calendar year, the Company opted not to recognize the IRPJ and CSLL tax credits (assets) related to Selic interest recovered on tax overpayments. These amounts were classified as "compensatory," as they aim to offset actual losses (property damages), in line with the understanding established by the Federal Supreme Court (STF) in September 2021.

However, in the 2024 calendar year, the Company reassessed its position in consultation with its tax legal advisors, in light of the issuance of COSIT Ruling 308/2023, in which the Brazilian Federal Tax Authority (RFB) acknowledged the right of public electricity distribution concession operators/licenseses to recognize these tax credits.

Given this favorable stance by the Tax Authorities, the Company decided to recognize the amount of IRPJ and CSLL credits arising from Selic interest on tax overpayments, which are considered "compensatory" as they aim to restore actual losses (property damages), according to the STF's position from September 2021.

Double PAT/Debenture Costs/Post-employment benefit (combined):

Includes tax credits from prior years used by the Company in the period and the effects of the tax incentive under the Worker Food Program (PAT), with double deduction provided for in art. 1 of Law No. 6.321/1976, subject to the limit of 4% of IRPJ due, pursuant to article 6, I, of Law 9.532/1997 and the adjustment of the tax treatment of debenture issuance costs, pursuant to article 38-B of Decree-Law 1.598/1977.

13. Concession financial assets and public service concession (contract asset) - Consolidated

13.1 Concession financial asset (electricity distribution)

Company	Balances at 12/31/2025	Additions (1)	Write-offs	Operating revenue - concession financial asset (2)	Balances at 03/31/2026
EMR	250,243	2,795	(28)	3,172	256,182
EPB	2,265,391	72,870	(2,140)	32,790	2,368,911
ESE	1,559,693	39,283	(1,398)	22,516	1,620,094
EMT	8,236,715	497,876	(18,628)	123,997	8,839,960
ETO	213,376	22,244	(45)	3,097	238,672
EMS	3,971,256	113,164	(6,885)	57,703	4,135,238
ESS	428,066	6,399	(134)	4,289	438,620
ERO	527,842	10,112	(45)	7,543	545,452
EAC	262,623	7,030	(62)	3,706	273,297
Total - noncurrent	17,715,205	771,773	(29,365)	258,813	18,716,426
Company	Balances at 12/31/2024	Additions (1)	Write-offs	Operating revenue - concession financial asset (2)	Balances at 12/31/2025
---	---	---	---	---	---
EMR	187,757	55,101	(294)	7,679	250,243
EPB	1,867,549	321,885	(7,281)	83,238	2,265,391
ESE	1,262,181	249,731	(7,660)	55,441	1,559,693
EMT	6,851,531	1,129,726	(52,443)	307,901	8,236,715
ETO	174,761	48,659	(338)	(9,706)	213,376
EMS	3,274,065	584,217	(31,707)	144,681	3,971,256
ESS	291,687	123,955	(299)	12,723	428,066
ERO	430,992	77,910	(60)	19,000	527,842
EAC	190,290	63,038	(49)	9,344	262,623
Total - noncurrent	14,530,813	2,654,222	(100,131)	630,301	17,715,205

(1) Additions: denotes transfers from the contractual asset - construction infrastructure.

(2) The financial assets are stated and classified at fair value through profit or loss, restated by the monthly variance of the IPCA price index (the index used by the regulatory agency in rate adjustment processes) and historic disallowances in previous ratifications, reflecting Management's best estimate of the asset's fair value.

13.2 Public service concession - contract asset - (electricity transmission)

Company	Contract Assets at 12/31/2025	Revenue from contract asset compensation	Revenue from construction performance obligation margins	Operation and maintenance revenue	Efficiency gains/losses on implementing infrastructure	Infrastructure construction revenue	RAP receipt	Contract Assets at 03/31/2026	Current	Noncurrent
EGO I	557,381	16,280	-	1,640	-	-	(13,043)	562,258	50,777	511,481
EPA I	704,965	20,891	-	1,829	-	-	(16,596)	711,089	64,654	646,435
EPA II (1)	674,908	17,402	-	1,708	-	-	(13,624)	680,394	51,908	628,486
ETT	1,175,584	29,105	-	2,269	-	-	(21,654)	1,185,304	90,459	1,094,845
EAM (2)	1,269,453	26,881	776	2,102	4,192	13,353	(12,357)	1,304,400	65,429	1,238,971
ETT II	95,181	2,012	-	67	-	-	(1,387)	95,873	5,479	90,394
EPT	128,523	4,041	-	646	-	-	(3,621)	129,589	12,047	117,542
EAP	224,472	4,650	-	212	-	-	(3,013)	226,321	14,121	212,200
LMTE	1,719,161	60,923	2	3,531	(12)	129	(46,014)	1,737,720	196,056	1,541,664
LXTE	1,819,305	50,846	(17)	2,879	85	(919)	(49,653)	1,822,526	203,038	1,619,488
LTTE	659,771	25,053	-	1,867	-	-	(18,855)	667,836	85,646	582,190
EAM II	270,954	2,936	6,868	-	(5,025)	6,822	-	282,555	16,619	265,936
EMA	69,039	(10,502)	6,031	-	(794)	20,608	-	84,382	-	84,382
Total	9,368,697	250,518	13,660	18,750	(1,554)	39,993	(199,817)	9,490,247	856,233	8,634,014
Company	Contract Assets at 12/31/2024	Revenue from contract asset compensation	Revenue from construction performance obligation margins	Operation and maintenance revenue	Efficiency gains/losses on implementing infrastructure	Infrastructure construction revenue	RAP receipt	Contract Assets at 12/31/2025	Current	Noncurrent
---	---	---	---	---	---	---	---	---	---	---
EGO I	543,102	58,434	-	6,348	-	-	(50,503)	557,381	50,118	507,263
EPA I	687,112	70,067	-	6,463	(12)	(17)	(58,648)	704,965	63,815	641,150
EPA II (1)	659,263	63,064	-	6,776	-	-	(54,195)	674,908	51,235	623,673
ETT	1,147,863	98,504	-	8,286	-	-	(79,069)	1,175,584	89,285	1,086,299
EAM (2)	1,170,001	21,006	12,477	7,276	19,948	81,541	(42,796)	1,269,453	56,336	1,213,117
ETT II	95,078	5,154	-	257	-	-	(5,308)	95,181	5,408	89,773
EPT	125,440	14,725	-	2,529	-	-	(14,171)	128,523	11,890	116,633
EAP	222,201	13,555	-	854	-	-	(12,138)	224,472	13,937	210,535
LMTE	1,673,160	164,386	7,455	13,743	(4,653)	50,306	(185,236)	1,719,161	192,220	1,526,941
LXTE	1,818,269	174,534	44	10,761	(219)	2,367	(186,451)	1,819,305	200,403	1,618,902
LTTE	634,446	104,833	-	9,548	-	-	(89,056)	659,771	84,535	575,236
EAM II	155,231	2,835	13,559	-	13,187	86,142	-	270,954	16,333	254,621
EMA	3,704	4,249	18,422	-	388	42,276	-	69,039	-	69,039
Total	8,934,870	795,346	51,957	72,841	28,639	262,615	(777,571)	9,368,697	835,515	8,533,182
Compensation rate of concession contract asset
---	---	---	---	---	---	---
Company	Construction margin	Operation and maintenance margin	Yield rate	Contract restatement index	Costs incurred	Annual RAP
EGO I	30.52%	12.57%	6% to 10% p.a.	IPCA	255,912	54,917
EPA I	25.98%	11.02%	6% to 10% p.a.	IPCA	318,120	68,708
EPA II	25.98%	11.02%	4% to 8% p.a.	IPCA	472,862	56,053
ETT	31.22%	10.48%	4% to 8% p.a.	IPCA	716,928	89,996
EAM	23.84%	17.06%	3% to 8% p.a.	IPCA	635,065	90,936
ETT II	32.98%	4.85%	3% to 8% p.a.	IPCA	68,801	5,445
EPT	0% to 5%	17.84%	8% to 12% p.a.	IPCA	35,328	13,866
EAP	45.88%	7.04%	3% to 8% p.a.	IPCA	155,300	14,363
LMTE	0% to 5%	8.19%	3% to 8% p.a.	IPCA	1,365,158	171,704
LXTE	0% to 5%	6.48%	3% to 12% p.a.	IPCA	1,380,158	179,514
LTTE	0% to 5%	14.60%	4% to 12% p.a.	IPCA	505,208	85,553
EAM II (2)	31.76%	1.93%	4% to 12% p.a.	IPCA	202,254	21,234

Compensation rate of concession contract asset
Company	Construction margin	Operation and maintenance margin	Yield rate	Contract restatement index	Costs incurred	Annual RAP
EMA (2)	30.64%	8.59%	5% to 12% p.a.	IPCA	63,261	122,805
Total					6,174,355	975,094

(1) ANEEL Ratifying Resolution 3.481 of July 15, 2025 which establishes the annual permitted revenues (RAP) for the 2025-2026 round, restated by the IPCA price index of 5.32%.
(2) Expected annual RAP from the EMA and EAM II concessions.

14. Contractual asset - Infrastructure under construction - Consolidated

	Balances at 12/31/2025	Additions	Transfers			Balances at 03/31/2026
			Intangible assets - concession agreement (1)	Concession financial asset (2)	Others (1)
Contractual asset - infrastructure under construction
Under construction	3,402,283	1,590,417	(445,650)	(811,064)	(3,828)	3,732,158
(-) Obligations linked to the concession
Under construction	577,534	154,673	(112,511)	(39,291)	-	580,405
Total contractual assets - infrastructure under construction	2,824,749	1,435,744	(333,139)	(771,773)	(3,828)	3,151,753
	Balances at 12/31/2024	Additions	Transfers			Balances at 12/31/2025
---	---	---	---	---	---	---
			Intangible assets - concession agreement (1)	Concession financial asset (2)	Others (1)
Contractual asset - infrastructure under construction
Under construction	2,915,593	5,938,575	(2,646,182)	(2,814,907)	9,204	3,402,283
(-) Obligations linked to the concession
Under construction	539,425	673,718	(474,924)	(160,685)	-	577,534
Total contractual assets - infrastructure under construction	2,376,168	5,264,857	(2,171,258)	(2,654,222)	9,204	2,824,749

(1) Of the amount of R$ 333,139 (R$ 2,171,258 as of December 31, 2025), R$ 116 was transferred to property, plant and equipment and R$ 333,023 was transferred to intangible assets - concession contract, while R$ 3,828 (R$ 9,204) entails reclassifications to Property, Plant and Equipment.

15. Investments

03/31/2024
Information about subsidiaries								Information about the parent company's investment
Subsidiaries	%	No. shares/quotas held/thous and	Share capital	Assets	Liabilities	Equity	Profit or loss for the period	Share of profit (loss) of equity- accounted investees (*)	Investments
Electricity Distribution								126,566	8,090,414
EMR	100	1,059	312,022	2,259,159	1,793,657	465,502	24,982	24,982	465,502
ESE	100	196	426,532	3,345,093	2,481,591	863,502	87,368	87,368	863,502
EAC	99.77	1,301,469	878,399	4,641,104	2,099,828	2,541,276	21,303	21,255	2,535,517
ERO	99.51	24,570	3,477,371	11,785,767	7,546,552	4,239,215	(7,318)	(7,283)	4,218,543
EMT	0.18	402	1,680,454	17,014,886	13,011,805	4,003,081	132,716	244	7,350
Electricity Generation								(20,659)	871,777
SOBR	100	12,627	12,627	6,282	79	6,203	(74)	(74)	6,203
EGUM	100	6,784	6,784	8,633	135	8,498	772	772	8,498
EGCS-CO	100	1,274	1,274	609	-	609	(17)	(17)	609
EGCE-BE	100	162	153	1	-	1	-	-	1
EGCE-MA	100	158	149	1	-	1	(7)	(7)	1
EGCE-AL	100	149	149	1	-	1	-	-	1
EGCE-UM	100	161	152	1	-	1	-	-	1
EGCS-RP1	100	160,482	160,482	200,433	65,618	134,815	(773)	(773)	134,815
EGCS-RP2	100	134,336	134,336	176,974	62,017	114,957	1,711	1,711	114,957
ALSOL	89.70	287	843,634	3,062,086	2,385,730	676,356	(24,828)	(22,271)	606,691
Electricity Trading								4,221	34,331
ECOM	100	157,547	108,924	586,855	554,266	32,589	4,514	4,514	32,589
CLARKE	70.04	17,975	34,455	4,796	2,309	2,487	(419)	(293)	1,742
Rendering of Services								3,625	206,200
ESOL	100	176,691	176,691	254,649	62,267	192,382	3,141	3,141	192,382
ESEA	100	15,411	15,411	10,348	47	10,301	236	236	10,301
EPLAN	58.26	1,686	4,109	7,637	1,601	6,036	425	248	3,517
Holding companies and other companies								439,349	12,864,902
Dinâmica	100	1,955	1,877	2,080	44	2,036	40	40	2,036
REDE	0.15	3,789	5,568,396	7,569,869	1,409,194	6,160,675	297,599	439	9,088
ETE	100	2,806,642	1,802,341	5,434,279	479,076	4,955,203	92,706	92,706	4,955,203
EPM	100	59	3,089,052	2,762,238	1,197,386	1,564,852	87,604	87,604	1,564,852
VOLTZ	100	214,533	214,533	131,299	13,590	117,709	7,952	7,952	117,709
EBG	100	60,049	60,059	117,033	22,786	94,247	(7,598)	(7,598)	94,247
EDG	100	1,736,192	1,592,526	2,229,094	173,992	2,055,102	26,288	26,288	2,055,102
EPNE	55	725,554	862,778	1,750,944	145	1,750,799	141,821	78,002	963,286
NOVA DENERGE	99.99	2,559,500	2,559,866	3,140,644	-	3,140,644	153,942	153,916	3,140,195
Unrealized income in subsidiaries (**)	-	-	-	-	-	-	-	-	(36,816)
Goodwill paid in the acquisition of subsidiaries								(2,472)	103,494
Total								550,630	22,171,118

() The equity income in the amount of R$ 550,630 does not include the income of R$ 2,328 related to the interest in FIDC, which was recorded under other investments.
(*) Refers to unrealized income in FIDC transactions recorded under other operating income.

12/31/2025
Information about subsidiaries								Information about the parent company's investment
Subsidiaries	%	No. shares/quotas held/thous and	Share capital	Assets	Liabilities	Equity	Net income in the Period	Share of profit (loss) of equity- accounted investees (*)
Electricity Distribution								1,094,659
EMR	100	1,059	312,022	2,350,080	1,909,686	440,394	83,075	83,075
ESE	100	196	426,532	3,227,635	2,314,014	913,621	378,058	378,058
EAC	99.77	1,301,365	878,399	4,413,185	1,873,655	2,539,530	(3,061)	(3,051)
ERO	99.51	24,570	3,477,371	11,765,681	7,519,432	4,246,249	638,341	635,054
EMT	0.18	402	1,680,454	15,553,606	11,517,215	4,036,391	829,241	1,523
Electricity Generation								(74,507)
SOBR	100	12,627	12,627	6,245	88	6,157	(153)	(153)
EGUM	100	6,784	6,784	7,926	200	7,726	1,485	1,485
EGCS-CO	100	1,274	1,274	626	-	626	(4)	(4)
EGCE-BE	100	162	153	1	-	1	(1)	(1)
EGCE-MA	100	158	149	1	-	1	(1)	(1)
EGCE-AL	100	149	149	1	-	1	(1)	(1)
EGCE-UM	100	161	152	1	-	1	(1)	(1)

13/31/2025

Information about subsidiaries								Information about the parent company's investment
Subsidiaries	%	No. shares/quotas held/thousand	Share capital	Assets	Liabilities	Equity	Net income in the Period	Share of profit (loss) of equity-accounted investees (1)	Investments
EGCS-RP1	100	160,482	160,482	201,618	66,030	135,588	(1,423)	(1,423)	135,588
EGCS-RP2	100	134,336	134,336	175,456	62,210	113,246	173	173	113,246
ALSOL	89.70	287	843,634	3,258,368	2,557,259	701,109	(83,145)	(74,581)	628,895
Electricity Trading								(66,872)	29,998
ECOM	100	101,433	108,924	480,917	452,954	27,963	(62,808)	(62,808)	27,963
CLARKE	70.04	17,975	34,455	5,242	2,337	2,905	(5,802)	(4,064)	2,035
Rendering of Services								23,952	212,365
ESOL	100	176,691	176,691	268,245	69,210	199,035	14,728	14,728	199,035
ESEA	100	15,411	15,411	10,121	56	10,065	8,078	8,078	10,065
EPLAN	58.26	1,686	4,109	7,227	1,623	5,604	1,967	1,146	3,265
Holding companies and other companies								1,870,221	12,581,887
Dinâmica	100	1,955	1,877	2,039	43	1,996	159	159	1,996
DENERGE (***)	-	-	-	-	-	-	805,902	805,741	-
REDE	0.15	3,789	5,567,569	7,259,761	1,142,556	6,117,205	1,192,670	2,158	9,026
ETE	100	2,806,642	1,802,341	5,402,835	547,034	4,855,801	325,044	325,044	4,855,801
EPM (**)	100	59	3,089,052	2,635,075	1,158,577	1,476,498	851,131	372,449	1,476,498
VOLTZ	100	214,533	214,533	121,409	11,674	109,735	43,109	43,109	109,735
EBG (1)	100	60,049	60,059	82,480	4,475	78,005	(13,945)	(13,945)	78,005
EDG	100	1,736,192	1,592,526	2,268,185	193,118	2,075,067	69,115	54,543	2,075,067
EPNE	55	725,554	862,778	1,868,317	134	1,868,183	567,567	312,162	1,027,847
NOVA DENERGE (***)	99.99	2,559,500	2,559,866	2,985,154	-	2,985,154	(31,247)	(31,247)	2,984,728
Unrealized income in subsidiaries (***)			-	-	-	-	-	48	(36,816)
Goodwill paid in the acquisition of subsidiaries								(12,184)	105,966
Total								2,835,269	21,942,973

() The equity income in the amount of R$ 2,835,269 does not include the income of R$ 28,454 related to the interest in FIDC, which was recorded under Other investments.
() On December 12, 2025, Itaú sold all preferred shares it held to the Company. Upon completion of the transaction, the Company then held 100% of the issued common and preferred shares of EPM.
() In November 2025, corporate reorganizations took place that changed the interests in the Company's investments.
(*) Refers to unrealized income in FIDC transactions recorded under other operating income.

(1) Acquisition of Lurean S.A.

On November 03, 2025, the subsidiary Energisa BIOGAS S.A acquired a 52% equity interest in Lurean S/A through a total investment of R$ 62,410.

Lurean has been operating for 12 years in organic waste treatment and the production and sale of biofertilizers. The company is strategically located in Carambeí (PR), approximately 120 km from Curitiba, in a region with a high concentration of agro-industrial waste and demand for fertilizers.

Measurement period of the Purchase Price Allocation (PPA):

Subsidiary management measures the fair value of intangible assets and liabilities to allocate the Alsol acquisition price in accordance with CPC 15 (R1) - Business Combination and IFRS 3 (R) - "Business Combination" at the acquisition date. See below the fair values of the identifiable assets and liabilities acquired at the business combination date:

Cash and cash equivalents	963
Receivables	962
Inventory	418
Other debtors	543
Recoverable taxes	1,812
Property, plant and equipment	51,633
Operating Liabilities	1,025
Loans	5,803
Taxes and social contributions	9,500
Total fair value of assets acquired	40,003
% interest	52%
Value of interest	20,802
Cash and cash equivalents paid under the business combination*	62,410
Proceeds from business combination	41,609
Date acquired	11/03/2025

*As of March 31, 2026, the amount of cash and cash equivalents paid in the business combination was R$ 21,826 (R$ 29,326 as of December 31, 2025), and the remaining amount will be paid during 2026.

Changes in the investments made in the period March 31, 2026:

	Balance at 12/31/2025	Acquisition (Sale of shares) Capital Increase (Reduction) or AFAC	IPL/ Transactions between partners (1)	Other Comprehensive Income	Dividends and interest on equity	Share of profit (loss) of equity- accounted investees	Balance at 01/31/2026
Electricity Distribution	8,120,515	89	1,234	(206)	(157,784)	126,566	8,090,414
EMR	440,394	-	332	(206)	-	24,982	465,502
ESE	913,621	-	257	-	(137,744)	87,368	863,502
EAC	2,533,572	83	340	-	(19,733)	21,255	2,535,517
ERO	4,225,517	6	303	-	-	(7,283)	4,218,543
EMT	7,411	-	2	-	(307)	244	7,350
Electricity Generation	892,242	127	67	-	-	(20,659)	871,777
SOBR	6,157	120	-	-	-	(74)	6,203
EGUM	7,726	-	-	-	-	772	8,498
EGCS-CO	626	-	-	-	-	(17)	609
EGCE-BE	1	-	-	-	-	-	1
EGCE-MA	1	7	-	-	-	(7)	1
EGCE-AL	1	-	-	-	-	-	1
EGCE-UM	1	-	-	-	-	-	1
EGCS-RP1	135,588	-	-	-	-	(773)	134,815
EGCS-RP2	113,246	-	-	-	-	1,711	114,957
ALSOL	628,895	-	67	-	-	(22,271)	606,691
Electricity Trading	29,998	-	112	-	-	4,221	34,331
ECOM	27,963	-	112	-	-	4,514	32,589
CLARKE	2,035	-	-	-	-	(293)	1,742
Rendering of Services	212,365	-	341	(18)	(10,113)	3,625	206,200
ESOL	199,035	-	337	(18)	(10,113)	3,141	192,382
ESEA	10,065	-	-	-	-	236	10,301
EPLAN	3,265	-	4	-	-	248	3,517
Holding companies and other companies	12,581,887	53,100	(13,014)	(131)	(196,289)	439,349	12,864,902
Dinâmica	1,996	-	-	-	-	40	2,036
REDE	9,026	-	4	-	(381)	439	9,088
ETE	4,855,801	29,260	237	-	(22,801)	92,706	4,955,203
EPM	1,476,498	-	805	(55)	-	87,604	1,564,852
Voltz	109,735	-	22	-	-	7,952	117,709
EBG	78,005	23,840	-	-	-	(7,598)	94,247
EDG	2,075,067	-	337	-	(46,590)	26,288	2,055,102
EPNE	1,027,847	-	(16,046)	-	(126,517)	78,002	963,286
Nova Denerge	2,984,728	-	1,627	(76)	-	153,916	3,140,195
Unrealized income in subsidiaries	(36,816)	-	-	-	-	-	(36,816)
Goodwill paid in the acquisition of subsidiaries	105,966	-	-	-	-	(2,472)	103,494
Total	21,942,973	53,316	(11,260)	(355)	(364,186)	550,630	22,171,118

(1) Transactions recorded directly against equity are as follows:

Subsidiaries	ILP	Transactions between partners (1)	Total
Electricity Distribution
EMR	332	-	332
ESE	257	-	257
EAC	220	120	340
ERO	283	20	303
EMT	2	-	2
Distributed Generation
ALSOL	67	-	67
Electricity Trading
ECOM	112	-	112
Rendering of Services
ESOL	337	-	337
EPLAN	4	-	4
Holding companies and other companies
REDE	4	-	4
ETE	237	-	237
EPM	839	(34)	805
EPNE	437	(16,483)	(16,046)
EDG	337	-	337
Nova Denerge (formerly Nova Gemini)	1,151	476	1,627
Voltz	22	-	22
Total	4,641	(15,901)	(11,260)

(*) Refers to gains and losses arising from changes in ownership percentage and/or capital increases, of subsidiaries.

Change in the investments made in the period December 31, 2025:

	Balance at 12/31/2024	Acquisition (Sale of shares) Capital Increase (Reduction) or AFAC	IPL/ Transactions between partners (1)	Other Comprehensive Income	Dividends and interest on equity	Share of profit (loss) of equity- accounted investees	Balance at 12/31/2025
Electricity Distribution	7,291,879	1,451	5,170	5,957	(278,601)	1,094,659	8,120,515
EMR	373,716	-	580	2,753	(19,730)	83,075	440,394
ESE	783,701	-	433	1,512	(250,083)	378,058	913,621
EAC	2,541,824	415	827	134	(6,577)	(3,051)	2,533,572
ERO	3,584,549	1,036	3,327	1,551	-	635,054	4,225,517
EMT	8,089	-	3	7	(2,211)	1,523	7,411
Electricity Generation	959,956	663	6,129	1	-	(74,507)	892,242
SOBR	5,749	560	-	1	-	(153)	6,157
EGUM	6,241	-	-	-	-	1,485	7,726
EGCS-CO	531	99	-	-	-	(4)	626
EGCE-BE	1	1	-	-	-	(1)	1
EGCE-MA	1	1	-	-	-	(1)	1
EGCE-AL	1	1	-	-	-	(1)	1
EGCE-UM	1	1	-	-	-	(1)	1
EGCS-RP1	137,011	-	-	-	-	(1,423)	135,588
EGCS-RP2	113,073	-	-	-	-	173	113,246
ALSOL	697,347	-	6,129	-	-	(74,581)	628,895
Electricity Trading	21,332	74,863	673	2	-	(66,872)	29,998
ECOM	15,982	74,114	673	2	-	(62,808)	27,963
CLARKE	5,350	749	-	-	-	(4,064)	2,035
Rendering of Services	189,996	1,200	628	890	(4,301)	23,952	212,365
ESOL	186,301	-	614	890	(3,498)	14,728	199,035
ESEA	787	1,200	-	-	-	8,078	10,065
EPLAN	2,908	-	14	-	(803)	1,146	3,265
Holding companies and other companies	11,258,555	(319,042)	1,391,002	17,917	(1,636,766)	1,870,221	12,581,887
Dinâmica	1,964	-	-	-	(127)	159	1,996
DENERGE (1 b and c) and (2)	2,434,523	(2,558,240)	153,054	(341)	(834,737)	805,741	-
REDE	7,619	-	1,536	26	(2,313)	2,158	9,026
ETE	3,960,460	646,930	576	(11)	(77,198)	325,044	4,855,801
EPM(1)	2,468,597	(1,613,665)	827,114	7,227	(585,224)	372,449	1,476,498
Voltz	66,566	-	57	3	-	43,109	109,735
EBG	58,515	37,035	(3,600)	-	-	(13,945)	78,005
EDG(2)	1,406,733	611,455	20,254	-	(17,918)	54,543	2,075,067
EPNE	890,442	(1,990)	(53,164)	1,004	(120,607)	312,162	1,027,847
Nova Denerge (1)	-	2,559,433	445,175	10,009	1,358	(31,247)	2,984,728
Unrealized income in subsidiaries	(36,864)	-	-	-	-	48	(36,816)
Goodwill paid in the acquisition of subsidiaries	119,062	(749)	(163)	-	-	(12,184)	105,966
Total	19,840,780	(241,614)	1,403,439	24,767	(1,919,668)	2,835,269	21,942,973

(1) In November 2025, the following corporate reorganizations took place: a) the subsidiary Energiaa Transmissão de Energia S/A sold the shares of Nova Denerge (formerly Nova Gemini) to Energiaa S/A at carrying amount of R$ 34; b) Subsequently, on November 29, 2025,

Energisa S/A increased Nova Denerge's share capital by R$ 2,559,399, in accordance with the appraisal report prepared by specialized consultants as of the base date of 06/30/2025, through the contribution of 776,438 (seven hundred seventy-six thousand, four hundred thirty-eight) shares issued by Denerge and owned by Energisa, representing 99.99% of Denerge's share capital. As a result of this transaction, Denerge became controlled by Nova Denerge, and Nova Denerge by Energisa S/A. c) Additionally, an amount of (R$ 153,038,000) was recognized in the capital reserve (transactions between shareholders), denoting the equity variation between the base dates of 06/30/2025 and 11/30/2025, the date on which the capital increase took place.

(2) In September 2025, noncontrolling shareholders sold shares to Energisa S/A in the amount of R$ 1,159,000.

(3) The following movements occurred at the subsidiary EPM: a) on September 17, 2025, there was a share capital reduction of R$ 1,000,000 returned in cash to shareholders Itaú and ESA in proportion to their ownership interests, in accordance with the investment agreement, 72.07% (R$ 720,700) and 27.93% (R$ 279,300), respectively, pursuant to the investment agreement; b) on December 12, 2025, Itaú and Energisa S/A entered into the share purchase and sale agreement and other covenants ("SPA"), through which Itaú sold all preferred shares it held to Energisa S/A for the amount paid of R$ 1,034,350, and the shareholders' agreement in force up to that date was rescinded and fully terminated by operation of law and without any legal effect for all purposes. Energisa S/A came to hold 100% of the issued common and preferred shares of subsidiary EPM; and c) on December 19, 2025, there was a share capital reduction in the amount of R$ 1,927,315, divided into: (i) R$ 1,455,000 returned in Brazilian currency; and (b) delivery of 394,177 preferred shares issued by EDG, corresponding to the amount of R$ 472,315, as recorded in the Company's accounting records as of the base date of November 30, 2025.

(4) The following movements occurred at the subsidiary EDG: a) on June 27, 2025, an advance for future capital increase was made in the amount of R$ 180,000 by Energisa S/A and EPM, shareholders of EDG, in the amounts of R$ 139,140 and R$ 40,860, respectively. This movement resulted in a change in ownership interest from 50.47% to 77.30% b) on December 19, 2025, with the share capital reduction in EPM, part of the transaction involved the delivery of EDG shares owned by EPM to the sole shareholder on that date, Energisa S/A, at the carrying amount of R$ 472,315, as determined from the accounting records as of the base date of November 30, 2025, an amount that already includes the assignment of the AFAC credit granted by the Company in favor of EDG in the amount of R$ 40,860. After this transaction, Energisa then held all the shares in EDG.

(5) Transactions recorded directly against equity are as follows:

Subsidiaries	ILP	Transactions between partners (*)	Total
Electricity Distribution
EMR	580	-	580
ESE	433	-	433
EAC	230	597	827
ERO	441	2,886	3,327
EMT	3	-	3
Distributed Generation
ALSOL	58	6,071	6,129
Electricity Trading
ECOM	673	-	673
CLARK	-	(163)	(163)
Rendering of Services
ESOL	614	-	614
EPLAN	14	-	14
Holding companies and other companies
DENERGE	1,082	151,972	153,054
REDE	6	1,530	1,536
ETE	576	-	576
EPM	1,294	825,820	827,114
EBG	-	(3,600)	(3,600)
EPNE	727	(53,891)	(53,164)
EDG	867	19,387	20,254
Nova Denerge (formerly Nova Gemini)	1,150	444,025	445,175
Voltz	57	-	57
Total	8,805	1,394,634	1,403,439

(*) Refers to gains and losses arising from changes in ownership percentage and/or capital increases, of subsidiaries.

Indirect interests:

03/31/2026
	% indirect	Assets	Liabilities	Equity	Profit or loss for the period
Subsidiary of Rede Energia Participações S/A
ETO	76.52	5,359,073	3,793,012	1,566,061	89,425
EMT	97.31	17,014,886	13,011,805	4,003,081	132,716
EMS	99.73	8,473,968	7,148,537	1,325,431	103,721
ESS	99.06	3,618,838	2,870,980	747,858	6,715
MULTI	99.80	36,538	10,635	25,903	6,264
QMRA	99.80	3,357	687	2,670	63
CTCE	99.80	3,943	263,474	(259,531)	(4,613)

Subsidiary of Energisa Transmissão de Energia S/A

03/21/2026
	% indirect	Assets	Liabilities	Equity	Profit or loss for the period
GEMINI ENERGY	100	1,541,872	2,166	1,539,706	50,762
LMTE	85.04	2,017,858	1,319,066	698,792	32,948
LXTE	83.34	2,016,024	1,294,941	721,083	18,245
LTTE	100	730,834	528,578	202,256	4,296
LITE	100	136	829	(693)	398
POMTE	100	3,529	690	2,839	9
EGO I	100	595,181	65,714	529,467	17,168
EPA I	100	768,586	246,009	522,577	3,147
EPA II	100	750,172	306,170	444,002	(6,759)
ETT I	100	1,278,118	688,640	589,478	13,477
EAM I	100	1,333,957	332,817	1,001,140	21,049
ETT II	100	99,321	13,544	85,777	1,895
EAP	100	276,561	127,560	149,001	2,116
EPT	100	138,377	10,324	128,053	3,544
EAM II	100	283,218	30,877	252,341	4,118
ETE IX	100	1	-	1	-
ETE VII	100	1	-	1	-
ETE IV	100	84,410	12,484	71,926	(5,666)
ETE V	100	1	-	1	-
ETE VIII	100	1	-	1	-
Subsidiary of Alsol Energias Renováveis S/A
Laralsol	99.9	6,189	5,104	1,085	73
URB	100	19,266	1,010	18,256	469
Reenergisa I	100	10,879	799	10,080	200
Reenergisa II	100	25,175	1,563	23,612	263
Renesolar	100	5,762	1,343	4,419	859
Flowsolar	100	14,635	5,344	9,291	1,274
Carbonsolar	100	3,874	2,307	1,567	(40)
Reenergisa IV	100	32,323	2,426	29,897	318
Reenergisa V	100	29,182	2,120	27,062	613
Reenergisa VI	100	28,892	2,243	26,649	638
Reenergisa VII	100	35,068	2,112	32,956	429
Reenergisa VIII	100	33,174	2,409	30,765	478
Reenergisa III	100	31,241	2,884	28,357	672
Ángulo Participações	100	118,371	32,656	85,715	(1,721)
Subsidiary of Energisa Distribuição de Gás S/A
ES GÁS	100	1,879,730	765,363	1,114,367	12,595
Subsidiary of Energisa Participações Nordeste S/A
EPB	100	5,486,794	3,747,528	1,739,266	139,154
Subsidiary of Energisa Soluções S/A
ESOLC	100	79,726	16,357	63,369	(906)
12/31/2025
---	---	---	---	---	---
	% indirect	Assets	Liabilities	Equity	Profit or loss for the year
Subsidiary of Rede Energia Participações S/A
ETO	76.52	4,594,811	3,118,697	1,476,114	431,597
EMT	97.31	15,553,606	11,517,216	4,036,390	829,241
EMS	99.73	8,253,554	7,032,283	1,221,271	359,860
ESS	99.06	3,695,892	2,954,942	740,950	140,114
MULTI	99.80	57,189	15,230	41,959	19,609
GMRA	99.80	3,271	664	2,607	232
REDE POWER	-	-	-	-	144,709
CTCE	99.80	3,914	259,011	(255,097)	(19,450)
Subsidiary of Energisa Transmissão de Energia S/A
GEMINI ENERGY	100	1,594,599	28,441	1,566,158	153,202
LMTE	85.04	1,969,971	1,304,141	665,831	79,675
LXTE	83.34	2,000,077	1,297,240	702,838	64,414
LTTE	100	706,119	508,189	197,931	28,105
LITE	100	134	1,226	(1,092)	(190)
POMTE	100	3,487	657	2,830	1,240
EGO I	100	576,366	60,193	516,173	56,774
EPA I	100	765,426	243,281	522,145	50,267
EPA II	100	745,561	294,800	450,761	40,235
ETT I	100	1,264,791	686,243	578,548	45,013
EAM I	100	1,296,960	333,030	963,930	8,141
ETT II	100	97,525	12,690	84,835	4,409
EAP	100	274,418	127,533	146,885	6,504
EPT	100	135,241	10,732	124,509	15,052
EAM II	100	271,678	34,385	237,293	23,610
ETE IX	100	1	-	1	-
ETE VII	100	1	-	1	-

11/31/2025

	% indirect	Assets	Liabilities	Equity	Profit or loss for the year
ETE IV	100	69,200	12,799	56,401	20,103
ETE V	100	1	-	1	-
ETE VIII	100	1	-	1	-
Subsidiary of Alsol Energias Renováveis S/A
Laralsol	99.9	6,177	5,385	792	(161)
URB	100	18,905	1,118	17,787	1,704
Reenergisa I	100	10,599	718	9,881	1,209
Reenergisa II	100	25,119	1,770	23,349	3,921
Renesolar	100	4,853	1,293	3,560	3,105
Flowsolar	100	13,369	5,351	8,018	6,035
Carbonsolar	100	3,529	1,922	1,607	(159)
Reenergisa IV	100	32,105	2,526	29,579	2,175
Reenergisa V	100	28,620	2,172	26,448	1,869
Reenergisa VI	100	28,430	2,419	26,011	995
Reenergisa VII	100	34,737	2,210	32,527	2,601
Reenergisa VIII	100	32,833	2,546	30,287	1,577
Reenergisa III	100	30,617	2,932	27,685	2,237
Ángulo Participações	100	121,106	33,670	87,436	(4,964)
Subsidiary of Energisa Distribuição de Gás S/A
ES GÁS	100	1,954,041	852,524	1,101,517	33,225
Subsidiary of Energisa Participações Nordeste S/A
EPB	100	5,299,897	3,539,540	1,760,357	562,893
Subsidiary of Energisa Soluções S/A
ESOLC	100	82,775	16,251	66,524	3,939

1. Property, plant and equipment

	Parent company
	Average depreciation rate	Balances at 12/31/2025	Additions	Transfers (1)	Depreciation (2)	Balances at 03/31/2026
PP&E in service
Cost
Land		606	-	-	-	606
Buildings and improvements	3.34%	34,255	-	85	-	34,340
Plant and equipment	15.60%	114,133	-	42,472	-	156,605
Vehicles	14.26%	8,339	-	-	-	8,339
Furniture and fixtures	6.25%	18,611	-	100	-	18,711
Total property, plant and equipment in service		175,944	-	42,657	-	218,601
Cumulative depreciation
Buildings and improvements		(9,238)	-	-	(274)	(9,512)
Plant and equipment		(59,075)	-	-	(4,516)	(63,591)
Vehicles		(7,277)	-	-	(60)	(7,337)
Furniture and fixtures		(15,144)	-	-	(86)	(15,230)
Total accumulated depreciation		(90,734)	-	-	(4,936)	(95,670)
Subtotal property, plant and equipment		85,210	-	42,657	(4,936)	122,931
Property, plant and equipment in progress		42,711	431	(32,103)	-	11,039
Total of property, plant and equipment		127,921	431	10,554	(4,936)	133,970

	Parent company
	Average depreciation rate	Balances at 12/31/2024	Additions	Transfers (1)	Write-offs	Depreciation (2)	Balances at 12/31/2025
PP&E in service
Cost
Land		606	-	-	-	-	606
Buildings and improvements	3.32%	31,413	-	2,842	-	-	34,255
Plant and equipment	15.26%	106,468	-	8,505	(840)	-	114,133
Vehicles	14.29%	8,556	-	103	(320)	-	8,339
Furniture and fixtures	6.25%	18,305	-	306	-	-	18,611
Total property, plant and equipment in service		165,348	-	11,756	(1,160)	-	175,944
Cumulative depreciation
Buildings and improvements		(8,195)	-	-	-	(1,043)	(9,238)
Plant and equipment		(45,348)	-	-	4	(13,731)	(59,075)
Vehicles		(7,320)	-	-	289	(246)	(7,277)
Furniture and fixtures		(14,817)	-	-	-	(327)	(15,144)
Total accumulated depreciation		(75,680)	-	-	293	(15,347)	(90,734)
Subtotal property, plant and equipment		89,668	-	11,756	(867)	(15,347)	85,210
Property, plant and equipment in progress		33,279	22,020	(12,588)	-	-	42,711
Total of property, plant and equipment		122,947	22,020	(832)	(867)	(15,347)	127,921

(1) The amount of R$ 10,554 (R$ 832 as of December 31, 2025) consists of reclassifications from intangible assets - software and other.
(2) In the period the company recorded PIS and COFINS credits on the depreciation of assets and equipment in the amount of R$ 195 (R$ 1,035 as of December 31, 2025).

	Consolidated
	Average depreciation rate	Balances at 12/31/2025	Business Combination	Additions (1)	Transfers (2)	Write-offs (3)	Depreciation	Balances at 03/31/2026
Property, plant and equipment in service
Cost
Land		19,417	-	-	-	-	-	19,417
Reservoirs, dams and power tunnels	2.93%	2,592	-	-	-	-	-	2,592
Buildings and improvements	3.26%	437,720	12,245	172	7,859	(18)	-	457,978
Plant and equipment	9.23%	3,033,106	14,502	351	175,515	(1,731)	-	3,221,743
Vehicles	13.64%	88,574	-	500	2,946	(3,785)	-	88,235
Furniture and fixtures	6.27%	113,078	-	9	(1,803)	-	-	111,284
Total property, plant and equipment in service		3,694,487	26,747	1,032	184,517	(5,534)	-	3,901,249
Cumulative depreciation
Reservoirs, dams and power tunnels		(645)	-	-	-	-	(20)	(665)
Buildings and improvements		(62,985)	(193)	-	-	2	(3,172)	(66,348)
Plant and equipment		(633,529)	(182)	-	-	671	(40,220)	(673,260)
Vehicles		(49,692)	-	-	-	1,677	(1,719)	(49,734)
Furniture and fixtures		(77,173)	-	-	-	-	(905)	(78,078)
Total accumulated depreciation		(824,024)	(375)	-	-	2,350	(46,036)	(868,085)
Subtotal property, plant and equipment		2,870,463	26,372	1,032	184,517	(3,184)	(46,036)	3,033,164
Property, plant and equipment in progress		536,841	-	44,219	(171,148)	-	-	409,912
Total of Property, plant and equipment		3,407,304	26,372	45,251	13,369	(3,184)	(46,036)	3,443,076

3

Consolidated
	Average depreciation rate	Balances at 12/31/2024	Business Combination	Additions (1)	Transfers (2)	Write-offs (3)	Depreciation	Balances at 12/31/2025
Property, plant and equipment in service
Cost
Land		2,876	15,575	-	1,278	(312)	-	19,417
Reservoirs, Dams and Power Tunnels	2.93%	2,592	-	-	-	-	-	2,592
Buildings and improvements	3.29%	421,369	228	-	21,488	(5,365)	-	437,720
Plant and equipment	9.33%	2,843,568	4,485	11,571	249,117	(75,635)	-	3,033,106
Vehicles	13.64%	95,986	6,953	931	8,989	(24,285)	-	88,574
Furniture and fixtures	6.25%	107,238	2,900	27	3,699	(786)	-	113,078
Total property, plant and equipment in service		3,473,629	30,141	12,529	284,571	(106,383)	-	3,694,487
Cumulative depreciation
Reservoirs, Dams and Power Tunnels		(566)	-	-	-	-	(79)	(645)
Buildings and improvements		(52,404)	(310)	-	-	289	(10,560)	(62,985)
Plant and equipment		(510,500)	(195)	(814)	-	21,560	(143,580)	(633,529)
Vehicles		(60,335)	(2,854)	-	-	21,556	(8,059)	(49,692)
Furniture and fixtures		(74,070)	(2)	-	-	441	(3,542)	(77,173)
Total accumulated depreciation		(697,875)	(3,361)	(814)	-	43,846	(165,820)	(824,024)
Subtotal property, plant and equipment		2,775,754	26,780	11,715	284,571	(62,537)	(165,820)	2,870,463
Property, plant and equipment in progress		480,345	-	365,100	(308,604)	-	-	536,841
Total of Property, plant and equipment		3,256,099	26,780	376,815	(24,033)	(62,537)	(165,820)	3,407,304

(1) Of the R$ 45,251 (R$ 376,815 as of December 31, 2025), R$ 23,276 (R$ 191,395 as of December 31, 2025) denote the investments of the direct subsidiaries ALSOL and R$ 21,975 (R$ 185,420 as of December 31, 2025) the investments of the other subsidiaries.
(2) Of the amount of R$ 13,369 (R$ 24,033 as of December 31, 2025), R$ 116 consists of transfers from the contractual asset - infrastructure under construction, R$ 9,425 consists of reclassifications to Intangible assets - software and other and R$ 3,828 of transfers from contractual assets - Infrastructure under construction.
(3) The amount of R$ 3,184 (R$ 62,537 as of December 31, 2025), denotes write-offs in the period initially recorded in Deactivation orders - ODD and at the end of the process the amounts are transferred to other operating income (expenses).

17. Intangible assets

	Parent Company		Consolidated
	03/31/2024	12/31/2025	03/31/2024	12/31/2025
Intangible assets - concession agreement	-	-	17,926,137	18,099,275
Concession right	-	-	363,995	331,014
Right-of-use	3,368	3,320	129,667	127,667
Intangible assets - software and other	114,196	127,996	693,002	718,884
Total	117,564	131,316	19,112,801	19,276,840

17.1 Intangible assets - concession agreement - Consolidated

	Average amortization rate	Balances at 12/31/2024	Additions	Transfers (1)	Write-offs (2)	Amortization (3)	Balances at 03/31/2024
Intangible assets in service
Cost	4.36%	41,396,032	56	445,534	(86,899)	-	41,754,723
Accumulated amortization		(19,646,850)	-	(8,982)	63,890	(586,531)	(20,178,473)
Total intangible assets		21,749,182	56	436,552	(23,009)	(586,531)	21,576,250
(-) Obligations linked to the concession
Cost	4.06%	8,133,861	-	112,511	(8,226)	-	8,238,146
Accumulated amortization		(4,483,954)	-	(8,982)	-	(95,097)	(4,588,033)
Total obligations linked to the concession		3,649,907	-	103,529	(8,226)	(95,097)	3,650,113
Total Intangible assets - concession agreement (4)		18,099,275	56	333,023	(14,783)	(491,434)	17,926,137

	Average amortization rate	Balances at 12/31/2024	Additions	Transfers (1)	Write-offs (2)	Amortization (3)	Balances at 12/31/2025
Intangible assets in service
Cost	4.36%	39,171,388	6,894	2,645,921	(428,171)	-	41,396,032
Accumulated amortization		(17,774,664)	-	(229)	316,009	(2,187,966)	(19,646,850)
Total intangible assets		21,396,724	6,894	2,645,692	(112,162)	(2,187,966)	21,749,182
(-) Obligations linked to the concession
Cost	4.01%	7,694,577	-	474,924	(35,640)	-	8,133,861
Accumulated amortization		(4,127,728)	-	(204)	-	(356,022)	(4,483,954)
Total obligations linked to the concession		3,566,849	-	474,720	(35,640)	(356,022)	3,649,907
Total Intangible assets - concession agreement (4)		17,829,875	6,894	2,170,972	(76,522)	(1,831,944)	18,099,275

(1) These are transfers from contractual assets - Infrastructure under construction.

(2) The amount of R$ 14,783 (R$ 76,522 as of December 31, 2025) denotes write-offs in the period, initially recorded in Deactivation orders - ODD and at the end of the process the amounts are transferred to profit or loss for the year in other operating income (expenses).

(3) In the financial year the parent company and its subsidiaries recorded PIS and COFINS credits on the amortization of assets and equipment in the amount of R$ 18,604 (R$ 68,483 as of December 31, 2025), which does not include the amount of R$ 1,096 (R$ 232 as of December 31, 2025) as the amortization expense on the provision for grid incorporation.

(4) Includes R$ 5,772,214 (R$ 5,866,764 as of December 31, 2025) of asset appreciation determined in the business combination during acquisitions of the subsidiaries EMT, EMS, ERO, EAC, ESGÁS and EDGNE.

Obligations related to the electricity DisCos' concession arrangement:

The balances of the concession financial asset, contractual asset of the infrastructure under construction and intangible asset of the concession contract are reduced by obligations linked to the concession, consisting of:

Obligations linked to the concession	03/31/2026	12/31/2025
Consumer contributions (1)	3,801,898	3,727,725
Participation of the Government, States and Municipalities (2)	6,212,652	6,131,962
Government Subsidy - RGR funds (3)	294,372	302,598
Reversal reserve (4)	3,665	3,855
Revenue from surplus demand and Surplus Reactive Energy	338,858	338,858
(-) Accumulated amortization	(4,588,033)	(4,483,954)
Total	6,063,412	6,021,044
Allocation:
Concession financial asset	1,832,894	1,793,603
Contractual asset - infrastructure under construction	580,405	577,534
Intangible assets - concession agreement	3,650,113	3,649,907
Total	6,063,412	6,021,044

(1) Consumer contributions represent third-party participation in construction work to supply electricity and amounts invested in Energy Efficiency Programs - PEE and Research and Development - R&D, whose results are invested back in concession assets.

(2) Includes the participation of the Federal Government, with funds from the Energy Development Account - CDE allocated to the Light for All and More Light for Amazon programs; and funds from the Fuel Consumption Account - CCC involving subrogation of the right of use due to the implementation of electricity projects that lower the CCC expenditure.

(3) Government Subsidy - RGR funds - portion denoting the recognition of receivables to be made using funds from the Global Reversal Reserve - RGR pursuant to MME Ordinance 484 of January 26, 2021. These receivables correspond to the non-depreciated value of distribution assets recorded under Contractual assets - infrastructure under construction - in valuations of the complete regulatory bases, as approved by the National Electricity Regulatory Agency - Aneel in Technical Notes 219/2020 and 220/2020-SFF/ANEEL.

(4) The reversal reserve, formed up until December 31, 1971, represents the amount of proceeds deriving from the reversal fund, which have been invested in the electricity distribution expansion project, charged interest of 5 % p.a. paid monthly.

ENERGISA GROUP
34

17.2 Concession right - consolidated

	Consolidated
	03/31/2026	12/31/2025
Recognized by subsidiaries (1)	538,012	538,012
Recognized by parent company (2)	298,589	298,589
Acquisition of interest (3)	369,009	327,400
(-) Accumulated amortization	(841,615)	(832,987)
Total	363,995	331,014

The change is as follows:

	Consolidated
	03/31/2026	12/31/2025
Balances at 12/31/2025 and 12/31/2024	331,014	385,830
Acquisition of equity interest	41,609	214
(-) Amortization/write-off in the period/year	(8,628)	(55,030)
Balances at 03/31/2026 and 12/31/2025	363,995	331,014

(1) Intangible assets recognized by subsidiaries:

Refers to the concession right incorporated by the subsidiary ESE which is being amortized from April 1998 and will continue to be amortized until the electricity distribution concession ends in December 2027. The amortization will reduce the income and social contribution taxes by 34%. As of March 31, 2026 the balance to be amortized by the subsidiary is R$ 24,625 (R$ 30,782 as of December 31, 2025).

(2) Intangible assets recognized by parent company:

Donates the concession rights for equity interests in the subsidiaries ESE and EPB, in the amount of R$ 44,405 (R$ 46,881 as of December 31, 2025), net of amortization. In accordance with ICPC 09 (R3), the Company records amortization of these amounts over the remaining period of the respective concession exploration licenses, by the straight line method.

The Company also holds the share control of the specific purpose entity Parque Eólico Sobradinho, located in the municipality Sobradinho - BA, which owns windfarm ventures amounting to R$ 7,022 (R$ 7,022 as of December 31, 2025). The amounts paid to acquire the wind farm will be amortized over 35 years as from start-up of the companies.

(3) Business combinations - Acquisition of equity interest

I. Rede Group - the equity interests assuring the share control of the companies comprising Rede Group were officially transferred to Energisa on April 11, 2014, pursuant to the Investment and Share Purchase and Sale Commitment and Other Covenants.

The value of the concession right determined under the acquisition of the companies stood at R$ 165,552 recognized in "investment" for the parent company and "intangible assets" in the consolidated statement. The symbolic acquisition price of R$ 1.00 (one real) was based on the mark-to-market of the equity of the companies acquired. The concession right determined on the acquisition was primarily due to the fact the PPA calculations did not include the renewal of the electricity distribution concessions introduced by Law 12.783/2013, which despite the issuance of Decree 8.461/2015, which regulated the extension of the electricity distribution concession agreements, suspended by the Federal Audit Court, which meant it was not possible to sign the new concession agreement, which triggered the variance between the average used to determine the price and the best estimate of the equity at fair value at the effective acquisition date.

Capital gains on the greater interest in the capital increases via capital contributions made at the subsidiaries JGMJ, BBPM, Denerge and Rede Energia amounting to R$ 96,345 was deducted from the concession right of R$ 165,552, amounting to R$ 69,207. Given the sale of the assets of the indirect subsidiary Tangará S/A, R$ 6,361 was transferred to assets held for sale in May 2015. The amount of R$ 69,207 has been amortized as of December 31, 2025.

II. Other acquisitions - goodwill:

Company	Parent company	Date acquired	03/31/2026	12/31/2025
Dinâmica	ESA	05/14/2015	4,512	4,512
ALSOL	ESA	06/17/2019	29,467	29,467
URB	ALSOL	12/01/2021	18	18
REENERGISA II	ALSOL	05/06/2022	2,865	2,865
AGRIC	EBG	08/04/2023	5,887	5,887
CLARKE	ESA	03/22/2024	18,090	18,090
EDGNE	EDISGÁS	12/31/2024	189,863	185,498
LUREAN *	EBG	11/03/2025	41,609	41,609

*As of December 31, 2025, goodwill was recognized under other investments and was reclassified on March 31, 2026 to concession rights in the consolidated statements.

The amortization of these concession rights and reduction to the income and social contribution taxes has been projected as follows:

Amortization period	Consolidated	IRPJ and CSLL reduction
2026 and 2027	41,831	8,373
2028 and 2029	18,886	-
2030 and 2031	8,313	-
Total	69,030	8,373

17.3 Intangible assets - right-of-use

Denotes the right to use properties originated by applying accounting standards CPC 06 (R2), which are amortized over the useful life defined in each contract.

	Parent company
	Average amortization rate (%)	Balances at 12/31/2025	Additions	Amortization	Balances at 03/31/2026
Right-of-use
Cost	17.06%	5,473	295	-	5,768
Accumulated amortization		(2,153)	-	(247)	(2,400)
Total intangible assets - right-of-use		3,320	295	(247)	3,368
	Parent company
---	---	---	---	---	---
	Average amortization rate (%)	Balances at 12/31/2024	Additions	Amortization	Balances at 12/31/2025
Right-of-use
Cost	17.76%	3,188	2,285	-	5,473
Accumulated amortization		(1,181)	-	(972)	(2,153)
Total intangible assets - right-of-use		2,007	2,285	(972)	3,320
	Consolidated
---	---	---	---	---	---
	Average amortization rate (%)	Balances at 12/31/2025	Additions	Write-offs	Amortization
Right-of-use
Cost	9.30%	237,747	7,955	(249)	-
Accumulated amortization		(110,080)	-	-	(5,706)
Total intangible assets - right-of-use		127,667	7,955	(249)	(5,706)
	Consolidated
---	---	---	---	---	---
	Average amortization rate (%)	Balances at 12/31/2024	Additions	Write-offs	Amortization
Right-of-use
Cost	9.13%	203,867	80,906	(47,026)	-
Accumulated amortization		(91,648)	(190)	3,469	(21,711)
Total intangible assets - right-of-use		112,219	80,716	(43,557)	(21,711)

17.4 Intangible assets - software and other

	Parent company
	Average amortization rate	Balances at 12/31/2025	Additions	Transfers (1)	Amortization	Balances at 03/31/2026
Cost of software and other
In service	20.00%	158,510	-	35,883	-	194,393
Accumulated amortization		(100,331)	-	-	(5,988)	(106,319)
In Progress		69,817	2,742	(46,437)	-	26,122
Total intangible assets - software and other		127,996	2,742	(10,554)	(5,988)	114,196
	Parent company
---	---	---	---	---	---	---
	Average amortization rate	Balances at 12/31/2024	Additions	Transfers (1)	Amortization	Balances at 12/31/2025
Cost of software and other
In service	20.00%	125,863	-	32,647	-	158,510
Accumulated amortization		(79,168)	-	-	(21,163)	(100,331)
In Progress		41,935	59,697	(31,815)	-	69,817
Total intangible assets - software and other		88,630	59,697	832	(21,163)	127,996

(1) The amount of R$ 10,554 (R$ 832 as of December 31, 2025) consists of transfers from property, plant and equipment.

	Consolidated
	Average amortization rate	Balances at 12/31/2025	Additions	Transfers (1)	Amortization	Balances at 03/31/2026
Cost of software and other
In service	20.00%	1,264,302	-	147,711	-	1,412,013
Accumulated Amortization		(805,660)	-	-	(37,587)	(843,247)
In progress		260,242	21,130	(157,136)	-	124,236
Total intangible assets - software and other		718,884	21,130	(9,425)	(37,587)	693,002
	Consolidated
---	---	---	---	---	---	---
	Average amortization rate	Balances at 12/31/2024	Additions	Transfers (1)	Write-offs	Amortization
Cost of software and other
In service	20.00%	1,083,109	60	184,112	(2,979)	-
Accumulated Amortization		(672,653)	-	-	1,120	(134,127)
In progress		204,182	225,057	(168,997)	-	-
Total intangible assets - software and other		614,638	225,117	15,115	(1,859)	(134,127)

(1) The amount of R$ 9,425 (R$ 15,115 as of December 31, 2025) consists of transfers from property, plant and equipment.

18. Trade payables

(1) Purchased electricity, charges for use of electric grid and connection charges: this denotes the acquisition of electricity from generators, transmission cost, use of the high-voltage grid and use of the distribution system, with an average settlement term of 25 days.

(2) Electricity Trading Chamber - CCEE: - The CCEE account consists of the last two provisions of the MCP (Spot Market) energy settlement, the effect of quotas (Physical Guarantee, Angra and Itaipu), and the effect of availability contracts. The PLD (Difference Settlement Price) prices Spot Market settlements and determines the expenses related to the Hydrological Risk, which under Law 12.783/2013 are covered by the distribution companies which can pass through these costs to consumers directly via rate adjustments.

(3) Natural gas acquisition: denotes the acquisition of natural gas from the suppliers Petrobrás, GALP, 3R PETROLEUM - TAG. The reduction is due to the migration of clients to the free gas market. This migration meant there was no purchase of the molecule, leading to a decrease in the total volume. Another factor is the fluctuation in Brent crude oil prices and the US dollar, which directly affects the molecule's value.

(4) National Electric System Operator - ONS: denotes out-of-merit-order dispatching of thermal power plants. In the period ended March 31, 2026, the out-of-merit-order dispatching of thermal power plants was lower than in the period December 2025, due to the higher PLD in the period.

(5) System service charges - ESS: denote out-of-merit-order dispatching of thermal power plants. In the period ended March 31, 2026, the out-of-merit-order dispatching of thermal power plants was higher than in the period November and December 2025, due to operational and technical curtailments in the electric system.

(6) Materials, services and other: denotes the acquisitions of materials, services and other items required to implement, conserve and maintain the electricity distribution services, with an average settlement of 30 days. Includes estimates of success fees for lawyers due to legal proceedings.

19. Loans, financing and debt charges

Summary changes in loans, financing and debt charges are as follows:

	Parent company
	Balances at 12/31/2026	Charges, monetary and exchange restatement and costs	Mark-to-market of debt	Balances at 03/31/2026
Local currency
Floating
CDI	375,637	14,637	-	390,274
Total local currency	375,637	14,637	-	390,274
Foreign Currency
US dollar	250,060	(9,799)	-	240,261
Mark-to-market	(1,410)	-	(311)	(1,721)
Total foreign currency	248,650	(9,799)	(311)	238,540
Grand Total	624,287	4,838	(311)	628,814
Current	424,348			628,814
Noncurrent	199,939			-

	Parent company
	Balance at 12/31/2024	Funding (1)	Principal payment	Interest payment	Charges, monetary and exchange restatement and costs	Mark-to-market of debt	Balance at 12/31/2025
Domestic currency
Floating
CDI	407,633	-	(85,000)	(13,448)	66,452	-	375,637
Total local currency	407,633	-	(85,000)	(13,448)	66,452	-	375,637
Foreign currency
US dollar	127,437	250,000	(112,673)	(10,956)	(3,748)	-	250,060
Euro	63,394	-	(61,322)	(3,771)	1,699	-	-
Mark-to-market	(422)	-	-	-	-	(988)	(1,410)
Total foreign currency	190,409	250,000	(173,995)	(14,727)	(2,049)	(988)	248,650
Grand Total	598,042	250,000	(258,995)	(28,175)	64,403	(988)	624,287
Current	598,042						424,348
Noncurrent	-						199,939
	Consolidated
---	---	---	---	---	---	---	---
	Balances at 12/31/2025	Funding	Principal Payment	Interest Payment	Charges, monetary and exchange restatement and costs	Mark-to-market of debt	Balances at 03/31/2026
Domestic currency
Fixed	600,926	-	(11,827)	(8,023)	9,262	-	590,338
Floating	-	-	-	-	-	-	-
INPC	115,169	-	(3,416)	(1,460)	2,660	-	112,953
IPCA	5,191,734	144,000	(94,479)	(76,305)	127,664	-	5,292,614
CDI	3,538,691	-	(16,573)	(34,403)	127,867	-	3,615,582
TR	1,051,527	-	(91)	(13,575)	30,101	-	1,067,962
(-) Borrowing cost	(20,750)	-	-	-	1,077	-	(19,673)
Other	14,038	-	(358)	(178)	284	-	13,786
Total local currency	10,491,335	144,000	(126,744)	(133,944)	298,915	-	10,673,562
Foreign currency
US dollar	5,867,323	105,000	(626,810)	(107,719)	(222,748)	-	5,015,046
Renminbi	-	42,000	-	-	55	-	42,055
Mark-to-market	9,972	-	-	-	-	(32,685)	(22,713)
Total foreign currency	5,877,295	147,000	(626,810)	(107,719)	(222,693)	(32,685)	5,034,388
Grand Total	16,368,630	291,000	(753,554)	(241,663)	76,222	(32,685)	15,707,950
Current	4,077,548						3,628,594
Noncurrent	12,291,082						12,079,356
	Consolidated
---	---	---	---	---	---	---	---
	Balance at 12/31/2024	Business Combination	Funding	Principal Payment	Interest Payment	Charges, monetary and exchange restatement and costs	Costs Appropriated
Domestic currency
Fixed	585,583	-	47,000	(38,373)	(31,310)	38,026	-
Floating	-	-	-	-	-	-	-
INPC	122,591	-	-	(12,638)	(5,978)	11,194	-
IPCA	4,326,150	-	977,000	(271,643)	(273,722)	433,949	-
CDI	3,012,615	-	1,920,000	(1,369,346)	(444,569)	419,991	-
TR	1,015,212	2,381	-	(61)	(87,052)	121,047	-
(-) Borrowing cost	(25,811)	-	-	-	-	5,407	(346)
Other	14,770	-	1,299	(2,594)	(752)	1,315	-
Total local currency	9,051,110	2,381	2,945,299	(1,694,655)	(843,383)	1,030,929	(346)
Foreign currency
US dollar	7,284,228	-	1,436,000	(2,032,903)	(396,562)	(423,440)	-
Euro	462,637	-	-	(440,326)	(14,775)	(7,536)	-
Mark-to-market	(75,248)	-	-	-	-	-	-
Total foreign currency	7,671,617	-	1,436,000	(2,473,229)	(411,337)	(430,976)	-
Grand Total	16,722,727	2,381	4,381,299	(4,167,884)	(1,254,720)	599,953	(346)
Current	5,001,313
Noncurrent	11,721,414

The breakdown of the loans and borrowings portfolio and main contractual conditions are as follows:

Company / Operation	Total		Annual Finance Charges (% p.a.)	Swap Charges Short Position (% p.a.)	Maturity	Amortization of principal	(Effective Interest rate) (% p.a) (1)	(Effective SWAP rate) (% p.a) (2)	Security (2)	Covenants (3)
	03/31/2026	12/31/2025
ESA
BTG - FIDC (6)	390,274	375,637	CDI + 1.95%	-	Jan/27	Final	3.89%	-	-	NA
Total Local Currency	390,274	375,637
CITIBANK - LOAN TRADE N° 68118	240,261	250,060	SOFR + 0.53%	CDI + 0.50%	Jun/26	Final	-1.35%	3.53%	-	2
Mark-to-market of Debt (6)	(1,721)	(1,410)
Total foreign currency	238,540	248,650
Total ESA	628,814	624,207
ESE
ENERGISAPREV - Deficit Repair - Sergipe Settled Plan	4,030	4,031	IPC FIPE + 5.41%	-	Jul/44	Monthly from Jan/21	2.38%	-	A	NA
ENERGISAPREV - MIGRATION - Sergipe DC Plan	398	776	IPCA + 5.78%	-	Jun/26	Monthly from Jun/21	3.15%	-	A	NA
BNDES - 20.2.0495-1 TRANCHE A	16,503	18,898	IPCA + 1.83% + 3.00%	-	Oct/27	Monthly from Apr/22	2.93%	-	A + R	2
BNDES - 20.2.0495-1 TRANCHE B	75,255	74,454	IPCA + 1.83% + 3.00%	CDI + 0.02%	Dec/34	Monthly from Nov/27	2.93%	3.41%	A + R	2
ENERGISAPREV - Deficit Repair - Sergipe Settled Plan	7,219	7,244	IPC FIPE + 5.16%	-	Feb/41	Monthly from Apr/22	2.32%	-	A	NA
ENERGISAPREV - Deficit Repair - Sergipe Settled Plan	2,537	2,546	IPC FIPE + 5.16%	-	Dec/40	Monthly from Apr/22	2.32%	-	A	NA
ENERGISAPREV - MIGRATION - Energisa DC Plan	4,878	11,866	IPCA + 5.78%	-	May/26	Monthly from Jul/23	3.15%	-	A	NA
ENERGISAPREV - MIGRATION - Energisa DC Plan	11,587	11,525	IPCA + 5.41%	-	Jun/44	Monthly from Jul/23	3.07%	-	A	NA
ENERGISAPREV - MIGRATION - Energisa DC Plan	4,610	5,084	IPCA + 4.96%	-	Apr/28	Monthly from Jul/23	2.96%	-	A	NA
BNDES - 23.2.0331-1	151,403	151,841	IPCA + 5.48% + 1.50%	-	Dec/43	Monthly from Jul/25	3.44%	-	FB	2
ENERGISAPREV - DEFICIT REPAIR - SERGIPE SETTLED PLAN	-	217	IPC FIPE + 4.96%	-	Mar/26	Monthly from Mar/26	2.27%	-	A	NA
(-) Borrowing cost	(768)	(797)
Total Local Currency	277,652	287,685
CITIBANK - LOAN TRADE 66131	377,231	404,428	SOFR + 0.93%	CDI 1.25%	Jul/26	Final	-1.25%	3.72%	A	2
Mark-to-market of Debt (6)	(2,733)	(1,644)
Total foreign currency	374,498	402,784
Total ESE	652,150	690,469
EPB
ENERGISAPREV - Deficit Repair - Funasa Settled Plan	1,581	1,659	MONTHLY NPC IBGE (%) + 5.28%	-	Dec/29	Monthly from Jan/21	2.81%	-	A	NA
BTG PACTUAL - BNDES 3/20 - TRANCHE A	76,506	79,575	IPCA + 1.83% + 3.23%	-	Feb/31	Monthly from Apr/22	2.98%	-	A + R	2
BTG PACTUAL - BNDES 3/20 - TRANCHE B	63,694	63,017	IPCA + 1.83% + 3.23%	CDI + 0.25%	Dec/34	Monthly from Feb/31	2.98%	3.47%	A + R	2
ENERGISAPREV - MIGRATION - Energisa DC Plan	20,581	20,935	MONTHLY NPC IBGE (%) + 5.28%	-	Jun/33	Monthly from Jan/21	2.81%	-	A	NA
ENERGISAPREV - Deficit Repair - Funasa DB I Plan	62,509	63,469	MONTHLY NPC IBGE (%) + 5.28%	-	Nov/33	Monthly from Jan/21	2.81%	-	A	NA
ENERGISAPREV - Deficit Repair - Funasa DB I Plan	1,360	1,381	MONTHLY NPC IBGE (%) + 5.28%	-	Nov/33	Monthly from Jan/21	2.81%	-	A	NA
BNDES - 23.2.0334-1	219,609	220,244	IPCA + 5.48% + 1.50%	-	Dec/43	Monthly from Jul/25	3.44%	-	FB	2
(-) Borrowing cost	(886)	(911)
Total Local Currency	444,954	449,269
SCOTIABANK LOAN 4131 09032023	-	21,599	USD + 5.36%	CDI + 1.57%	Mar/26	Final	-3.83%	3.80%	A	2
CITIBANK LOAN TRADE 66133	118,822	127,388	SOFR + 0.93%	CDI +1.25%	Jul/26	Final	-1.25%	3.72%	A	2
SANTANDER LOAN CCB 1067308	160,473	171,933	USD + 5.37%	CDI + 1.25%	Jul/26	Final	-3.82%	3.72%	A	2
BAML - LOAN 4131 - 05092025	195,911	203,902	USD + 4.46%	CDI + 0.45%	Sep/26	Final	-4.04%	3.52%	A	2
Mark-to-market of Debt (6)	(2,508)	(223)
Total foreign currency	472,698	524,599

Company / Operation	Total		Annual Finance Charges (% p.a.)	Swap Charges Short Position (% p.a.)	Maturity	Amortization of principal	(Effective Interest rate) (% p.a) (1)	(Effective SWAP rate) (% p.a) (2)	Security (2)	Covenants (3)
	03/31/2026	12/31/2025
Total EPB	917,652	973,968
EMR
BTO PACTUAL - BNDES 2/20	62,584	63,662	IPCA + 1.83% + 3.23%	-	Dec/34	Monthly from Apr/22	2.98%	-	A + R	2
1st Commercial Paper	51,804	53,976	CDI + 1.55%	-	Jul/26	Annual from Jul/25	3.80%	-	A	2
BNDES - 23.2.0337-1	119,017	119,362	IPCA + 5.48% + 1.50%	-	Dec/43	Monthly from Jul/25	3.44%	-	FB	2
(-) Borrowing cost	(519)	(557)
Total Local Currency	232,886	236,443
BAML - LOAN 18122024	-	114,397	USD + 5.34%	CDI + 1.58%	Jan/26	Final	-3.83%	3.80%	A	2
SCOTIABANK - LOAN 4131 - 06122024	96,449	100,348	USD + 4.52%	CDI + 1.10%	Dec/27	Final	-4.03%	3.68%	A	2
Mark-to-market of Debt (4)	(244)	547
Total foreign currency	96,205	215,292
Total EMR	329,091	451,735
EMT
FIDC Energisa Group IV - Series 1	354,111	354,116	TR + 7.00%	-	Oct-34	Monthly from Nov/29	2.18%	-	R	NA
FIDC Energisa Group IV - Series 2	287,336	296,237	CDI + 0.70%	-	Apr/31	Monthly from May/21	3.58%	-	R	NA
BNDES - 20.2.0494-1 TRANCHE A	50,877	58,260	IPCA + 1.83% + 3.00%	-	Oct-27	Monthly from Apr/22	2.93%	-	A + R	2
BNDES - 20.2.0494-1 TRANCHE B	231,997	229,530	IPCA + 1.83% + 3.00%	CDI + 0.02%	Nov/34	Monthly from Nov/27	2.93%	3.41%	A + R	2
ENERGISAPREV - MIGRATION - Energisa DC Plan	9,885	10,143	MONTHLY NPC IBGE (%) + 5.46%	-	Dec/31	Monthly from Jan/21	2.86%	-	A	NA
ENERGISAPREV - Deficit Repair - Risk Plan	1,350	1,355	MONTHLY NPC IBGE (%) + 5.17%	-	Feb/38	Monthly from Apr/22	2.79%	-	A	NA
BNDES - 23-2-0330-1	404,007	404,700	IPCA + 5.48% + 1.50%	-	Dec/43	Monthly from Jul/25	3.44%	-	FB	2
2nd COMMERCIAL PAPER ISSUANCE SINGLE SERIES	70,028	67,523	CDI + 1.20%	-	Dec/27	Final	3.71%	-	A	2
SANTANDER - FRN - CCB No. 1071684	313,529	302,453	CDI + 1.04%	-	Dec/27	Final	3.67%	-	A	NA
(-) Borrowing cost	(2,383)	(2,494)
Total Local Currency	1,720,737	1,721,823
Scotiabank Loan 09032023	-	248,387	USD + 5.36%	CDI + 1.57%	Mar/26	Final	-3.83%	3.80%	A	2
CITIBANK NCE - TRADE 65874	311,885	324,450	SOFR + 1.50%	CDI + 1.25%	Jun/28	Final	-1.11%	3.72%	A	2
Scotiabank Loan 4131 30072024	258,908	277,039	USD + 5.03%	CDI + 1.40%	Aug/27	Final	-3.91%	3.76%	A	2
Mark-to-market of Debt (4)	(1,564)	2,414
Total foreign currency	569,229	852,290
Total EMT	2,289,966	2,574,113
EMS
FIDC Energisa Group IV - Series 1	292,077	292,081	TR + 7.00%	-	Oct-34	Monthly from Nov/29	2.18%	-	R	NA
FIDC Energisa Group IV - Series 2	131,125	135,186	CDI + 0.70%	-	Apr/31	Monthly from May/21	3.58%	-	R	NA
BNDES 20.2.0493-1 TRANCHE A	41,534	47,561	IPCA + 1.83% + 3.00%	-	Oct-27	Monthly from Apr/22	2.93%	-	A + R	2
BNDES 20.2.0493-1 TRANCHE B	189,396	187,381	IPCA + 1.83% + 3.00%	CDI + 0.02%	Dec/34	Monthly from Nov/27	2.93%	3.41%	A + R	2
1st Commercial paper series 2	103,354	107,689	CDI + 1.55%	-	Jul/26	Annual from Jul/25	3.80%	-	A	2
BNDES - 23.2.0329-1	295,715	150,959	IPCA + 5.48% + 1.50%	-	Dec/43	Monthly from Jul/25	3.44%	-	FB	2
3rd Commercial Paper Single Series	55,439	53,455	CDI + 1.20%	-	Dec/27	Final	3.71%	-	A	2
(-) Borrowing cost	(1,775)	(1,896)
Total Local Currency	1,106,865	972,416
CITIBANK NCE - TRADE 65873	249,668	259,727	SOFR + 1.50%	CDI + 1.25%	Jun/28	Final	-1.11%	3.72%	A	2

energia

ENERGISA

ENERGISA GROUP
103

ENERGISA

(1) The effective interest rates represent the changes in the period ended March 31, 2026. The effects of hedge accounting are not being taken into account for foreign-currency debt, demonstrated in note 31.
(2) A=Endorsement of Energisa S/A, FB = Bank Guarantee, R=Receivables, S=Surety.
(3) Covenants terms - the contract has covenants which in general require the maintenance of certain financial indexes at certain levels. These guarantees are structured based on indicators established in the contracts using consolidated financial information, as listed below:

Covenants	Index Required	Measurement frequency
Net Debt / Adjusted EBITDA Covenants (*)	Less than or equal to 4.25x until maturity	Quarterly and Annual

(*) EBITDA + Interest on energy bills.

Failure to maintain these levels could result in early maturity of the debts (see note 31). These requirements were being performed as of March 31, 2026.

(4) The operations are being measured at fair value through profit and loss, according to the fair value hedge accounting or designated as fair value options (see note 31).

(5) The subsidiaries EPA I, EPA II, ETT and EAM secured financing from Banco da Amazônia ("BASA"), and ETT also contracted financing from BNDES. These financing agreements include financial covenants that must comply with the following limits:

✓ Debt service coverage ratio (ICSD), equaling or exceeding 1.3x, determined annually, after 12 (twelve) months of principal payment until the end of the contract and when below the required ratio, use contractual cure mechanisms provided for in the financing agreements. Contractual requirements had been met as of March 31, 2026, with the exception of the indirect subsidiary ETT, whose ratio fell below the required level and, as contractually required, will therefore effect the cure by providing a bank guarantee of R$ 26,503 (BASA) and a deposit of R$ 2,641 (BNDES).

(6) See note 3.

(7) The indirect subsidiaries LMTE and LXTE are subject to the following Guarantees and Covenants:

Guarantees:
Debt Service Reserve Account (CRSD) equivalent to 3x the latest monthly debt service. Pledge over 100% of the concession operators' shares and rights emerging from the concession, including Reserve Accounts.

Covenants:
Debt service coverage ratio (ICSD), equaling or exceeding 1.3x, determined annually, after 12 (twelve) months of principal payment until the end of the contract. These covenants were being performed as of March 31, 2026.

(8) The contracts have swap protection and are measured at fair value, as shown in note 32.

Guarantees: guarantees payment of the installments, the subsidiaries maintain short-term investments of R$ 71,365 (R$ 70,011 as of December 31, 2025), recorded under "short-term investments in money market and "secured funds" in the consolidated non-current assets.

The foreign-currency financing contracts are subject to a currency swap and financial derivative instruments (see note 31).

The Company and its subsidiaries usually allocate interest payments on financing to the cash flow statement.

The main indicators used to restate the loans and financing presented the following percentage variations and effective rates in the period/year:

Currency/indicators	03/31/2026	12/31/2025
USD x R$	(5.14%)	(11.14%)
TJLP	2.24%	8.67%
CDI	3.41%	14.32%
IPCA	1.74%	4.26%
TR	3.66%	1.97%
IPC-FIPE	0.47%	3.83%
Euro x R$	1.05%	0.51%
INPC	1.52%	3.90%

ENERGISA GROUP
106

The financing classified in noncurrent liabilities are scheduled as follows:

	Consolidated
2027	4,990,404
2028	1,154,609
2029	574,250
2030	684,751
2031 onwards	4,675,342
Total	12,079,356

20. Debentures

Changes in debentures are as follows:

	Parent company
	Balance at 12/31/2025	Interest Payment	Charges, monetary and exchange restatement and costs	Mark-to-market of debt	Balance at 03/31/2026
Local currency
CDI	6,352,135	(411,827)	227,123	-	6,167,431
IPCA	6,278,859	(71,253)	192,044	-	6,399,650
(-) Borrowing cost	(93,422)	-	5,412	-	(88,010)
Mark-to-market	(253,239)	-	-	(335,003)	(588,242)
Grand Total	12,284,333	(483,080)	424,579	(335,003)	11,890,829
Current	1,217,136				1,064,086
Noncurrent	11,067,197				10,826,743
	Parent company
---	---	---	---	---	---
	Balance at 12/31/2024	Funding	Principal payment	Interest payment	Charges, monetary and exchange restatement and costs
Local currency
CDI	4,589,470	4,549,661	(2,760,856)	(862,696)	836,556
IPCA	6,011,707	-	-	(350,600)	617,752
(-) Borrowing cost	(42,154)	-	-	-	15,645
Mark-to-market	(470,783)	-	-	-	-
Grand Total	10,088,240	4,549,661	(2,760,856)	(1,213,296)	1,469,953
Current	410,513
Noncurrent	9,677,727
	Consolidated
---	---	---	---	---	---
	Balance at 12/31/2025	Funding	Interest Payment	Charges, monetary and exchange restatement and costs	Costs Appropriated
Local currency
Fixed	1,176,606	-	-	37,772	-
Floating
CDI	11,980,040	-	(580,608)	430,837	-
IPCA	15,455,486	2,830,000	(200,366)	520,474	-
TJLP	820,394	-	-	20,316	-
(-) Borrowing cost	(539,444)	-	-	20,877	(70,773)
Mark-to-market	(365,333)	-	-	-	-
Grand Total	28,527,749	2,830,000	(780,974)	1,030,276	(70,773)
Current	2,449,765
Noncurrent	26,077,984

ENERGISA

	Consolidated
	Balance at 12/31/2024	Funding	Principal payment	Interest payment	Charges, monetary and exchange restatement and costs	Costs appropriated	Mark-to-market of debt	Balance at 12/31/2025
Local currency
Fixed	89,964	1,060,000	-	(72,469)	99,111	-	-	1,176,606
Floating
CDI	8,137,181	7,037,401	(3,208,390)	(1,533,095)	1,546,943	-	-	11,980,040
IPCA	10,870,385	4,860,000	(848,870)	(647,529)	1,221,500	-	-	15,455,486
TJLP	904,961	-	(157,316)	(9,030)	81,779	-	-	820,394
(-) Borrowing cost	(306,722)	-	-	-	63,900	(296,622)	-	(539,444)
Mark-to-market	(900,755)	-	-	-	-	-	535,422	(365,333)
Grand Total	18,795,014	12,957,401	(4,214,576)	(2,262,123)	3,013,233	(296,622)	535,422	28,527,749
Current	1,720,229							2,449,765
Noncurrent	17,074,785							26,077,984

The breakdown of debenture balances and main contractual conditions are as follows:

Operations	Total		Emissions	No. Securities Issued / free float	Yields (% p.a.)	Swap Charges Short Position (% p.a.)	Maturity	Amortization of principal	Effective interest rate (% p.a.) (1)	(Effective SWAP rate) (% p.a.) (2)	Security (3)	Covenants (3)
	03/31/2026	12/31/2025
ESA
Debentures 9th Issuance	33,791	32,847	10/15/2017	2472 / 2472	IPCA + 5.11%	-	Oct/27	Final	2.99%	-	R	1
Series 3			04/15/2019	500000 / 500000	IPCA + 4.62%	-	Apr/26	Final	2.88%	-	SG	1
Debentures 14th Issuance /	75,753	75,753	10/15/2020	55000 / 55000	IPCA + 4.23%	-	Oct/27	Final	2.78%	-	SG	2
Series 1
Debentures 14th Issuance /	601,608	585,656	10/15/2020	425000 / 425000	IPCA + 4.47%	CDI - 1.54%	Oct/30	Annual from Oct/28	2.84%	3.02%	SG	2
Series 2
Debentures 15th Issuance	425,406	412,594	10/15/2021	330000 / 330000	IPCA + 6.09%	-	Oct/31	Annual from Oct/29	3.23%	-	SG	2
Series 1
Debentures 15th Issuance	59,286	57,104	10/15/2021	700000 / 700000	CDI + 1.64%	-	Oct/26	Final	3.82%	-	SG	2
Series 2
Debentures 15th Issuance	88,733	85,435	10/15/2021	300000 / 300000	CDI + 1.80%	-	Oct/28	Final	3.86%	-	SG	2
Series 3
Debentures 16th Issuance	374,674	363,332	04/15/2022	309,383 / 309,383	IPCA + 6.16%	-	Apr/29	Annual from Apr/27	3.24%	-	SG	2
Series 1
Debentures 16th Issuance	230,962	223,910	04/15/2022	190,617 / 190,617	IPCA + 6.28%	-	Apr/32	Annual from Apr/30	3.27%	-	SG	2
Series 2
Debentures 16th Issuance	70,961	68,373	04/15/2022	250,000 / 66,197	CDI + 1.50%	-	Apr/27	Final	3.78%	-	SG	2
Series 3
Debentures 17th Issuance	19,692	18,974	10/20/2022	550,000 / 18,404	CDI + 1.50%	-	Oct/27	Final	3.78%	-	SG	2
Series 1
Debentures 17th Issuance	107,071	103,128	10/20/2022	200,000 / 100,000	CDI + 1.65%	-	Oct/29	Final	3.82%	-	SG	2
Series 2
Debentures 18th Issuance	98,918	95,287	06/20/2023	1,130,000 / 67,954	CDI + 1.60%	-	Jun/26	Final	3.81%	-	SG	2
Series 1
Debentures 18th Issuance	139,566	134,284	06/20/2023	400,000 / 133,774	CDI + 2.10%	-	Jun/28	Final	3.93%	-	SG	2
Series 2
Debentures 19th Issuance	206,949	206,726	09/15/2023	184,299 / 184,299	IPCA + 6.17%	CDI + 0.65%	Sep/30	Final	3.25%	3.57%	SG	2
Series 1
Debentures 19th Issuance	1,294,516	1,294,005	09/15/2023	1,152,701 / 1,152,701	IPCA + 6.45%	CDI + 0.90% / CDI 0.88% / CDI + 0.891%	Sep/33	Final	3.32%	3.63%	SG	2
Series 2
Debentures 19th Issuance	111,483	115,916	09/15/2023	500,000 / 500,000	CDI + 1.45%	-	Sep/28	Final	3.77%	-	SG	2
Series 3
Debentures 20th Issuance	724,132		04/15/2	646,556	IPCA +	CDI +	Apr/31	Final	3.25%	3.45	SG	2

ENERGISA

Operations	Total		Emissions	No. Securities Issued / free float	Yields (% p.a.)	Swap Charges Short Position (% p.a.)	Maturity	Amortization of principal	Effective interest rate (% p.a.) (1)	(Effective SWAP rate) (% p.a.) (2)	Security (3)	Covendits (4)
	03/31/2026	12/31/2025
Series 1		702,210	024	/646,556	6.16%	0.15%				%
Debentures 20th Issuance Series 2	889,577	862,163	04/15/2024	793,444/793,444	IPCA + 6.40%	CDI + 0.44	Apr/39	Final	3.30%	3.52%	SG	2
Debentures 21st Issuance Series 2	886,263	919,470	09/04/2024	876,564/876,564	CDI + 0.80%	-	Sep/29	Final	3.61%	0.00%	SG	2
Debentures 22nd Issuance Series 2	785,829	785,488	09/15/2024	730,000/730,000	IPCA + 6.44%	CDI + 0.04%	Sep/34	Final	3.31%	3.42%	SG	2
Debentures 23rd Issuance Series 1	587,580	610,663	02/25/2025	579,459/579,459	CDI + 0.80%	-	Feb/30	Final	3.61%	-	SG	2
Debentures 23rd Issuance Series 2	325,079	337,982	02/25/2025	320,541/320,541	CDI + 0.95%	-	Feb/32	Final	3.65%	-	SG	2
Debentures 23rd Issuance Series 2	3,672,799	3,805,519	09/15/2025	3,649,661	CDI + 0.75%	-	Sep/32	Final	3.60%	-	SG	2
(-) Funding costs	(88,010)	(93,422)	-	-	-
Mark-to-market of debt	(588,242)	(253,239)
Total INDIVIDUAL ESA	11,890,829	12,284,333
ESE
Debentures 11th Issuance	83,948	83,846	01/15/2022	68,000/68,000	IPCA + 5.74%	CDI + 0.509%	Jul/27	Final	3.14%	3.54%	A	2
Debentures 14th Issuance / Series 1	359,681	359,941	09/15/2025	350,000/350,000	IPCA + 7.15%	CDI - 0.15%	Sep/35	Final	3.48%	3.37%	A	2
Debentures 14th Issuance / Series 2	246,618	246,679	09/15/2025	240,000/240,000	IPCA + 6.95%	CDI - 0.15%	Sep/40	Annual from Sep/38	3.43%	3.37%	A	2
Debentures 15th Issuance Series 1	172,987	-	02/23/2026	171,429/171,429	IPCA + 6.67%	CDI - 0.68%	Feb/36	Final	3.37%	3.24%	A	2
Debentures 15th Issuance Series 2	28,829	-	02/23/2026	28,571/28,571	IPCA + 6.55%	CDI - 0.61%	Feb/41	Annual from Feb/39	3.34%	3.26%	A	2
(-) Funding costs	(29,346)	(22,739)
Total ESE	862,719	667,727
EPB
Debentures 6th Issuance Series 2	50,145	48,394	06/10/2019	48000/48000	CDI + 0.83%	-	Jun/26	Final	3.62%	-	A	1
Debentures 11th Issuance	77,817	77,776	01/15/2022	63,000/63,000	IPCA + 6.01%	CDI + 0.755%	Jan/30	Semiannual from Jan/29	3.21%	3.60%	A	2
Debentures 13th Issuance / Series 1	140,835	136,571	04/15/2024	125,747/125,747	IPCA + 6.16%	CDI + 0.15%	Apr/31	Final	3.25%	3.45%	A	2
Debentures 13th Issuance / Series 2	195,365	189,345	04/15/2024	174,253/174,253	IPCA + 6.40%	CDI + 0.44%	Apr/39	Semiannual as from Apr/37	3.30%	3.52%	A	2
Debentures 14th Issuance	37,171	38,564	09/04/2024	36,764/36,764	CDI + 0.80%	-	Sep/29	Final	3.61%	-	A	2
Debentures 16th Issuance Series 1	100,230	103,982	03/25/2025	100,000/100,000	CDI + 0.80%	-	Mar/30	Final	3.61%	-	A	2
Debentures 16th Issuance Series 2	100,232	104,023	03/25/2025	100,000/100,000	CDI + 0.95%	-	Mar/32	Final	3.65%	-	A	2
Debentures 17th Issuance Series 1	311,119	300,966	10/15/2025	297,000/297,000	IPCA + 7.23%	CDI - 0.25%	Oct/35	Final	3.50%	3.35%	A	2
Debentures 17th Issuance Series 2	207,324	200,612	10/15/2025	198,000/198,000	IPCA + 7.11%	CDI - 0.19%	Oct/40	Semiannual as from Oct/38	3.47%	3.36%	A	2
Debentures 18th Issuance		-	02/23/2	214,286	IPCA +	CDI -	Feb/36	Final	3.37%	3.24	A	2

ENERGISA

Operations	Total		Emissions	No. Securities issued / free float	Yields (% p.a.)	Swap Charges Short Position (% p.a.)	Maturity	Amortization of principal	Effective interest rate (% p.a.) (1)	(Effective SWAP rate) (% p.a.) (2)	Security (3)	Covenants (4)
	03/31/2026	12/31/2025
Series 1	216,233		026	/ 214,286	6.67%	0.68%				%
Debentures 18th Issuance Series 2	36,036	-	02/23/2026	35,714 / 35,714	IPCA + 6.55%	CDI - 0.61%	Feb/41	Annual from Feb/39	3.34%	3.26%	A	2
(-) Funding costs	(39,143)	(31,177)
Total EPB	1,433,364	1,169,056
REDE ENERGIA
Debentures 4th Issuance	104,075	100,279	12/22/2009	370,000 / 0	1.00%	-	Nov / 35	Final	0.25%	0.25%	-	-
Total REDE ENERGIA EMS	104,075	100,279
Debentures 16th Issuance	412,515	400,091	10/15/2021	320,000 / 320,000	IPCA + 6.09%	CDI + 0.835%	Oct/31	Annual from Oct/29	3.23%	3.62%	A	2
Debentures 17th Issuance	152,404	158,622	08/22/2022	150,000 / 150,000	CDI + 1.60%	-	Aug/27	Annual from Oct/26	3.81%	-	A	2
Debentures 19th Issuance	361,845	348,564	07/04/2023	250,000 / 250,000	CDI + 1.60%	-	Jul/26	Final	3.81%	-	A	2
Debentures 21st issuance	444,859	444,631	02/07/2024	400,000 / 400,000	IPCA + 6.11%	CDI + 0.72%	Feb/31	Final	3.23%	3.59%	A	2
Debentures 23rd issuance	253,226	262,714	09/04/2024	250,455 / 250,455	CDI + 0.80%	-	Sep/29	Final	3.61%	-	A	2
Debentures 24th issuance	290,649	290,523	09/15/2024	270,000 / 270,000	IPCA + 6.44%	CDI + 0.04%	Sep/34	Final	3.31%	3.42%	A	2
Debentures 25th issuance	198,128	191,222	12/15/2024	190,000 / 190,000	CDI + 0.80%	-	Dec/29	Final	3.61%	-	A	2
Debentures 26th issuance	429,457	416,315	05/15/2025	410,000 / 410,000	FIXED + 13.70%	CDI - 0.16%	May/32	Final	3.26%	3.37%	A	2
Debentures 27th Issuance Series 1	554,912	555,177	09/15/2025	540,000 / 540,000	IPCA + 7.05%	CDI - 031%	Sep/35	Final	3.46%	3.33%	A	2
Debentures 27th Issuance Series 2	369,926	370,018	09/15/2025	360,000 / 360,000	IPCA + 6.95%	CDI - 0.16%	Sep/40	Annual from Sep/40	3.43%	3.37%	A	2
(-) Funding costs	(67,698)	(69,960)	-	-	-	-	-	-	-	-	-	-
Total EMS	3,400,223	3,367,917
EMT
Debentures 10th Issuance Series 2	33,975	32,771	06/10/2019	32500 / 32500	CDI + 1.05%	-	Jun/29	Annual from Jun/27	3.67%	-	A	1
Debentures 13th Issuance Series 1	84,984	82,778	10/15/2020	60100 / 60100	IPCA + 4.23%	-	Oct/27	Final	2.78%	-	A	2
Debentures 13th Issuance Series 2	98,947	96,323	10/15/2020	69900 / 69900	IPCA + 4.47%	CDI - 1.54%	Oct/30	Annual from Oct/28	2.84%	3.02%	A	2
Debentures 14th Issuance	451,188	437,600	10/15/2021	350000 / 350000	IPCA + 6.09%	CDI + 0.705%	Oct/31	Annual from Oct/29	3.23%	3.61%	A	2
Debentures 15th Issuance Series 1	199,139	193,111	04/15/2022	164,437 / 164,437	IPCA + 6.16%	CDI + 0.717%	Apr/29	Annual from Apr/27	3.24%	3.59%	A	2
Debentures 15th Issuance Series 2	115,790	112,254	04/15/2022	95,563 / 95,563	IPCA + 6.28%	CDI + 0.880%	Apr/32	Annual from Apr/30	3.27%	3.63%	A	2
Debentures 17th Issuance	444,859	444,631	02/07/2024	400,000 / 400,000	IPCA + 6.11%	CDI + 0.7275%	Feb/31	Annual from Feb/30	3.23%	3.59%	A	2
Debentures 18th Issuance	491,455	474,380	04/15/2024	460,000 / 460,000	CDI + 0.75%	-	Apr/29	Annual from Apr/30	3.60%	-	A	2
Debentures 20th issuance	117,692	122,102	09/04/2024	116,404 / 116,404	CDI + 0.80%	-	Sep/29	Final	3.61%	-	A	2

(1) R = Receivables, A = Endorsement of Energisa S/A F = Aval and SG = Unsecured, S = Surety
B= CRSD equivalent to the last 6 months of the debt service. Pledge over 100% of the concession operators' shares and rights emerging from the concession, including Reserve Accounts.
(2) The effective interest rates represent the changes in the period ended March 31, 2026.
(3) Covenant terms:

The debentures have covenants which in general require the maintenance of certain financial indexes at certain levels, with the ones listed below:

Covenants	Index required	Measurement frequency
Net Debt / Adjusted EBITDA Covenants (7)	(1) Less than or equal to 4.0x at March 2021 for issuances through March 2021
(2) Less than or equal to 4.25x until maturity, for other issuances	Quarterly and Annual

(7) EBITDA + Interest on energy bills.

Failure to maintain these levels could result in early maturity of the debts. These requirements were being performed as of March 31, 2026.

The LTTE and LXTE debentures have covenants which in general require the maintenance of certain financial indexes at certain levels: Debt Service Coverage Ratio (DSCR), greater than or equal to 1.20, is determined annually based on audited regulatory financial statements. These requirements were being performed as of the latest measurement date, December 31, 2025.

(4) The contracts have swap protection and are measured at fair value, as shown in note 31.
(5) The 1st issuance debentures of the indirect subsidiaries LXTE and LMTE have share convertibility clauses and guarantee these subsidiaries the right to buy these shares, at any time, for the conversion price, under the conditions described in the public debentures issuance deed.

The subsidiaries measured the fair value of the call option instrument, as defined in the debenture deed, and based on the best estimate made by subsidiaries' Management as of March 31, 2026, there is no amount to be recognized for this instrument.

Maturities

As of March 31, 2026 the maturities of the debentures in noncurrent liabilities are scheduled as follows:

Year	Parent company	Consolidated
2027	292,847	958,175
2028	609,953	909,661
2029	1,495,338	4,946,400
2030	1,055,343	3,379,298
2031 onwards	7,373,262	17,691,922
Total	10,826,743	27,885,456

21. Taxes and social contributions

(1) Value-Added Tax on Goods and Services - ICMS - The indirect subsidiary ESS holds an injunction suspending the ICMS tax on amounts billed under the "low-income" subsidy program, totaling R$ 93,020 (R$ 89,681 as of December 31, 2025), with the amount deposited in court.

22. Sector charges - consolidated

	03/31/2026	12/31/2025
Energy Development Account - CDE	41,494	41,492
National Scientific and Technological Development Fund - FNDCT (1)	9,226	8,997
Ministry of Mining and Energy - MME (1)	4,612	4,498
National Electricity Conservation Program - PROCEL (1)	41,068	34,550
Research and Development - R&D (1)	185,858	172,710
Energy Efficiency Program - PEE (1)	265,437	259,845
Total	547,695	522,092
Current	403,623	394,691
Noncurrent	144,072	127,401

(1) Sector charges account for 1% of net operating revenue and aim to finance and combat electricity waste and the technological development of the electric sector related to the Energy Efficiency Program (PEE) and Research and Development (R&D) programs. These claims are restated monthly according to the variance of the Selic interest rate, for the electricity distribution companies.

Law 14.120/2021, which amended Law 9.991/2000, determines that R&D and PEE funds not committed to contracted or initiated ventures should be allocated to the CDE to help keep rates down. Pursuant to Order 904/2021, from April/2021 the DisCos and TransCos should make a monthly pass-through of part of the R&D and PEE accounts to the CCEE, which controls the CDE. This legislative amendment justifies the movements from non-current to current. R&D amounts only are attributed to electricity transmission companies.

Project expenditure is recorded in Other receivables - service orders in progress - PEE and R&D until completion of the relevant projects, at which time is recorded as program funding, while the realization of obligations on the acquisition of intangible assets is charged to the concession obligations balance.

23. Provisions for labor, civil, tax, environmental and regulatory risks

The Company and its subsidiaries are party to judicial and administrative proceedings before courts and government agencies. These cases result from the normal course of business, and involve labor, civil, tax, environmental and regulatory matters.

23.1 Probable losses

A provision is recognized when the obligation is deemed a probable loss by the Company's legal advisors. See below the change in provisions:

Parent company	Labor claims
	03/31/2026	12/31/2025
Balances as of 12/31/2025 and 12/31/2024 - noncurrent	567	547
Provisions and reversals, net	(68)	2
Payments made	-	(9)
Monetary restatement	(37)	27
Balances as of 12/31/2026 and 12/31/2024 - noncurrent	462	567
Consolidated	Labor claims	Civil
---	---	---
Balances as of 12/31/2025 and 12/31/2024 - noncurrent	75,067	373,356
Provisions and reversals, net	8,188	33,531
Payments	(6,459)	(27,769)
Restatement	3,302	5,411
Balances as of 03/31/2026 and 12/31/2024 - noncurrent	80,098	384,529

The Company and its subsidiaries have registered deposits and collateral in non-current assets amounting to R$ 8,833 (R$ 8,680 as of December 31, 2025) in the Subsidiary and R$ 1,951,822 (R$ 1,887,119 as of December 31, 2025) in the Consolidated statement, which are related to provisioned or unprovisioned cases.

Labor claims

Most of the claims address: (i) contractual/legal fees; (ii) compensation for work-related accidents; (iii) overtime/respective obligations; (iv) severance notice period and respective obligations; (v) salary parity and respective obligations; (vi) health hazard allowance. Provisions have been made for the aforesaid labor proceedings rated as having a probable chance of defeat by the Company and its subsidiaries' legal advisers. In general proceedings rated as having a probable chance of defeat take between 3 and 5 years to reach the final judgment and effective disbursement of the amounts provisioned for, in the event the Company does not prevail.

Civil

The civil proceedings are mainly disputing indemnification for moral and material damages and consumer complaints for issues such as (i) improper cut-offs from the electricity supply, (ii) improper listing in credit protection agency (SPC/Serasa); (iii) cancellation/revision of consumption irregularity invoice; (iv) cancellation/revision of normal consumption invoice; (v) reimbursement for electrical damage; (vi) connection or changing ownership of consumer unit; (vii) incorporation/compensation for construction of private electricity grid; (viii) accidents involving third parties; (ix) collection proceedings, (x) formation of administrative easement (xi) right-of-way compensation; (xii) issues involving environmental rules and (xiii) consumer litigation, (xiii) consumer litigation and (xiv) proceedings related to compensation for its operations, i.e. operating and maintaining its transmission lines, substations and equipment in accordance with the public transmission service concession contract.

Tax

The Company and its direct and indirect subsidiaries are also subject to several claims due to conflicting interpretations of tax legislation, arising out of the normal course of business, with the provisions revised and adjusted to take circumstantial changes into account such as: (i) applicable statute of limitations, (ii) completion

ENERGISA GROUP
115

of tax inspections or (iii) exposure identified as a result of new issues or court decisions. Refers to disputes involving the ICMS, IRPJ, CSLL, PIS, COFINS, INSS and ISS taxes.

Main cases:

Company	Case type	Case	Item	03/31/2026	12/31/2025
LXTE	Tax Enforcements	0002402-76.2014.8.14.0138	This refers to a Tax Enforcement Lawsuit filed in September 2014 for the collection of ISS tax debt related to the alleged provision of civil construction services for an electricity transmission line in the Municipality of Anapú, as recorded in the outstanding tax debt register No. 004/2013.	14,559	14,077
ERO	Tax Enforcements	-	A tax contingency created by the subsidiary ERO related to ICMS cases for the periods January 1999 to December 2016.	936,327	905,380

• Environmental

Administrative processes related mostly to alleged non-compliance with environmental requirements.

Company	Case type	Case	Item	03/31/2026	12/31/2025
LXTE	Environmental	5051902-68.2019.4.02.5101	Environmental case filed by the Brazilian Institute of Environment and Renewable Natural Resources - IBAMA, to discuss the absence of environmental licensing This case had its rating changed from probable to remote, after performance of the payment obligation.	-	21,008

• Regulatory

Cases involving disputes about possible non-compliance with regulatory requirements.

23.2 Possible losses

The Company and its subsidiaries are party to labor, civil, tax, environmental and regulatory claims in progress where the chance of loss has been estimated as possible, meaning no provision was required.

See below the movement in the provisions for possible losses:

Parent company	Labor claims	Civil	Tax	03/31/2026	12/31/2025
Balances at 12/31/2025 and 12/31/2024	1,921	3,119	128,132	133,172	28,307
Change in rating and claim amount	-	-	-	-	92,316
Closing	(5)	-	-	(5)	-
Monetary restatement	65	107	4,379	4,551	12,549
Balances at 03/31/2026 and 12/31/2025	1,981	3,226	132,511	137,718	133,172
Consolidated	Labor claims	Civil	Tax	Regulatory	Environmental
---	---	---	---	---	---
Balances at 12/31/2025 and 12/31/2024	103,276	1,316,013	2,913,694	51,762	31,386
New cases	804	2,298	95,411	-	-
Change in rating and claim amount	(1,902)	(14,056)	2,141	-	(11,646)
Closing	(3,137)	(12,997)	(4,242)	-	(105)
Monetary restatement	3,412	44,526	99,562	1,769	664
Balances at 03/31/2026 and 12/31/2025	102,453	1,335,784	3,106,566	53,531	20,299

See below the main subjects or nature of the lawsuits considered to have possible risks.

• Labor claims

Labor proceedings consist of the following claims: claims submitted by employees seeking overtime, danger

hazard allowances, "on call" time, indemnity for work-related accidents, in addition to claims from former employees of service providers hired by the subsidiaries, claiming joint liability for severance pay and salaries and charging union fees, notice, compensation for damages resulting from work-related accidents, public procurements, severance incentivization plan, transposition to federal institutions.

• Civil

Civil proceedings consist primarily of the following claims: (i) revision or cancellation of electricity invoices due to the uncertainty of the amount; (ii) compensation for property and moral damages due to the suspension of the electricity supply due to non-payment, irregularities in meters, surges in voltages or temporary blackouts, in addition to processes involving disputes about grid incorporation; (iii) collection actions; (iv) establishment of administrative easements; (v) right-of-way compensation; (vi) matters involving environmental regulations; (vii) consumer claims; and (xiv) claims for damages arising from its own activities, i.e. the operation and maintenance of its transmission lines, substations and equipment, pursuant to the electric power transmission public service concession agreement.

Main cases:

Company	Type	Case	Item	03/31/2026	12/31/2025
EMS	Class Action	00651268720144013800	Case by which the Energy Consumer Defense Association is claiming a return of amounts unfairly charged in double. The impact in the case of defeat is a possible recalculation of the rates practiced, resulting in a change to the contractual bases of the concession agreement and the entire methodology for creating rates prepared by the Concession authority.	253,235	244,865
EMS	Public Civil Action	00081923720034036000	Case where the Public Prosecutions Department is claiming the annulment of the rate adjustment authorized by Ratifying Resolution 2003.	89,517	86,558
EMT	Compensation claim	17436-75.2014.811.0041	Claim seeking reimbursement for material and moral damages due to the allegedly unjustified termination by the defendant of the service provision agreement.	104,896	101,429
EMT	Compensation claim	54570-73.2013.811.0041	Claim seeking reimbursement of amounts due to excessive cost of the service provision agreements and nonperformance of obligations established in the agreements.	59,444	57,479
EMT	Compensation claim	13549-66.2015.811.0003	It addresses matters related to moral and material damages, including discussions on losses arising from the execution of contracts.	51,341	49,645
EMT	Compensation claim	1005691-76.2017.8.11.0041	Involving issues related to contractual clauses. The claimant is seeking to receive unpaid amounts related to the performance of service contracts, arising from the execution of additional services.	42,678	41,268
EMT	Compensation claim	0009533-77.2003.4.01.3600	Compensation claim involving disputes about grid reimbursement.	72,186	69,800
ETO	Legal Proceedings	0007336-94.2008.4.01.3400	Disputing contractual issues involving the repossession/expropriation of land to build high-voltage distribution lines and substations.	50,002	48,349
LMTE/GEMINI	Consumer litigation - Amapá Blackout	S/N	Disputes compensation claims for losses triggered by the incident on November 03, 2020 when an internal short-circuit caused a fire in Transformer 01 - 230/69/13.8 kV (TTR01) of the Macapá Substation (SE Macapá), and an overload in the automatic shutting down of Transformer 03 - 230/69/13.8 kV (TTR03). IRDR No. 0003649-80.2021.8.03.0000 was filed to the State Court, which ruled that the State Court does not have jurisdiction to adjudicate indemnity claims arising from the sales of electricity to consumers in Amapá state in November 2020, considering the possibility of ANEEL—the National Electricity Regulatory Agency—ensuring accountability. Due to the absence of validity requirements and proper constitution, the proceedings were accordingly shelved by the Company.	69,207	78,567
LMTE	Public Civil Action Blackout	1001396-65.2025.4.01.3100	Public Civil Action filed by the Federal Public Prosecutions Department, involving disputes about the interruption in electricity supply that occurred in 2020 in Amapá state.	107,449	103,898

• Tax

The tax and labor claims basically consist of disputes about: (i) PIS and COFINS on electricity invoices; (ii) offsetting and appropriation of ICMS credits; (iii) income tax and social contribution; (iv) collection of ISS on concession

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services provided; (v) offsetting and appropriation of ICMS credits on equipment for providing for energy transmission and distribution services allocated to the company's permanent assets, (vi) tax bookkeeping, (vii) CIAP non-bookkeeping fine; (viii) ICMS due to disallowance of credits on the acquisition of diesel for on-demand manufacturing (ix) the reflections of nontechnical losses in the PIS, COFINS, IRPJ and CSLL calculation base, and (x) demand for IOF on advances for future capital increase - AFAC; (xii) ISS on the alleged contracting of services to build electricity transmission lines; (xiii) PERDCOMP on credit rebate on negative CSLL balance.

Company	Type	Case	Item	03/31/2026	12/31/2025
Company	Tax Enforcement	1003121-36.2020.4.01.3821	This is a case concerning the levy of IOF tax on AFAC transactions, based on the position of the Brazilian Federal Tax Authorities that the operation would, in fact, constitute a loan granted to subsidiaries.	102,266	98,886
EMR	Tax Enforcement	0087729-97.2016.8.13.0153	Dispute about ICMS required due to the breach of the deferral.	56,331	54,469
EMR	Administrative Proceeding	13136.720060/2020-19	This is an IRPJ and CSLL tax assessment notice related to 2015/2016, concerning SWAP contract transactions that allegedly were not for hedge purposes and treatment regulated by article 77 of Law 8.981/95.	66,930	65,471
ESE	Tax Enforcement	0029302-74.2018.8.25.0001	Dispute regarding the alleged misuse of ICMS credits on fixed assets (CIAP), resulting from the acquisition of goods, assets and services not related to electricity distribution	31,338	30,302
EPB	Assessment Notice	93300008.09.00002840/2021-87	Disputing the non-payment of ICMS on electricity sales to consumers, because they are allegedly exempt.	44,647	43,171
EPB	Assessment Notice	10480.729848/2019-31	Disputing the annulment of a fine regarding the impacts on the calculations of PIS/COFINS and IRPJ/CSLL on non-technical losses.	43,700	42,256
EMT	Administrative proceedings	14094.720008/2018-36	Related to the nonratification of the changes made to the Declarations of Federal Contributions and Taxes - DCTFs for the period 2014 to 2016.	137,536	132,990
EMT	Administrative proceedings	14041.720061/2020-77	Filed by the Federal Tax Authorities disputing IRPJ, CSLL, PIS and COFINS on non-technical losses.	40,875	39,524
EMT	Tax claim	1026238-64.2022.8.11.0041	Lawsuit involving a dispute over the collection of ICMS DIFAL.	82,199	79,482
EMT	Administrative Proceeding	51227479/2023	This involves a tax assessment notice disallowing ICMS credits for the period March 2019 – December 2022, due to alleged errors in calculating the tax credit coefficient.	30,639	29,627
ESS	Assessment Notice	4,034,268-2	Question regarding the incidence of ICMS on amounts received as economic subsidies for the Low-Income subclass (ICMS for the low-income subclass in 2008/2009), with the amount being deposited in a class action.	37,381	36,146
ERO	Assessment Notice	10240-722.819/2020-12	Reduced the value of the tax loss (IRPJ) and negative calculation base of CSLL, due to the disallowance of the expense on non-technical losses in 2016 and 2017.	586,638	567,249
ERO	Tax Enforcement	7002079-67.2025.8.22.0000	It is disputing the ICMS payment requirement and a penalty resulting from the rejection of diesel fuel credit for the year 2016. This case had its rating change from remote to possible, after the administrative dispute had reached a conclusion.	98,317	95,068
ERO	Assessment Notice	7006273-81.2023.8.22.0000	It is disputing the ICMS payment requirement and a penalty resulting from the rejection of diesel fuel credit for the year 2015.	49,718	48,075
ERO	Assessment Notice	10280-731.896.2023-21	Deriving from disallowed IRPJ/CSLL credit contributions related to non-technical losses.	40,807	39,458
EAC	Assessment Notice	2535/2002-3842/2011	Proceeding related to a dispute about late-payment penalties involving an ICMS credit settled on 12/06/2005, pursuant to the commitment agreement.	34,332	33,198
EAC	Assessment Notice	11.314/2018 (2018/81/46743	Disputing issues related to charging the calculation base difference, rate differential, CIAP Journal and diesel oil credit reversal.	77,202	74,650
EAC	Assessment Notice	2019/81/33314 (AI 12.097)	Issued by Acre state, formalizing the recording of an ICMS tax liability due to "underpayment of ICMS for FY 2015 due to misappropriation of tax credits, difference in the calculation base for electricity sales and monthly payments supposedly lower than that effectively owed".	55,258	53,431

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Company	Type	Case	Item	03/31/2026	12/31/2025
			The subsidiary filed an administrative challenge on September 20, 2019, which was dismissed. A voluntary appeal was filed and then partially granted on November 06, 2025. Given that no other administrative appeals are available, the Company is awaiting collection of the debt and closure of the proceedings.
EAC	Assessment Notice	15,022	Assessment Notice issued by Acre state, involving the following matters: (i) difference in the ICMS tax base (ANEEL-approved rate) and (ii) non-approval of credits from cancellations under the agreement. April 30, CIAP credits and DIFAL credits for FY 2020. The case's rating was changed after reassessment of the risk by the legal advisers.	34,012	32,888
EAC	Assessment Notice	15,552	This involves a tax assessment notice demanding payment of ICMS due to: alleged discrepancy in the calculation basis; non-approval of the full amount of ICMS credits; partial disallowance of tax credit amounts arising from the acquisition of assets for fixed assets; and assessment of rate differential. A challenge has been filed and first-instance judgment is pending.	47,148	-
EAC	Administrative Proceeding	39910/2020	Case disputing issues related to alleged errors in the ICMS calculation and the use of tax credits regarding: i) determining reversals related to the acquisition of diesel oil to produce electricity, exempt portion, energy loss and sale value difference; ii) inconsistency in amounts corresponding to the provision and offsetting the rate differential determined monthly; iii) non-ratification of cancellations made by the taxpayer; iv) difference in the calculation base in relation to the energy produced and effectively sold to the end consumer.	89,503	86,545
LXTE	Tax Enforcement	0001307-30.2019.8.14.0075	Filed on February 12, 2019 by the municipal government of Porto do Moz, regarding the alleged contracting of services to build Transmission Lines which will run through this location. The subsidiary's position is that the services were provided by its own personnel and are not therefore subject to ISS. The case is still pending judgment.	58,565	56,629
DENERGE	Tax Enforcement	0001954-81.2016.4.03.6182	Collection of an isolated fine at a rate of 75% (seventy-five percent), based on Article 18 (2) of Law No. 10.833/2003, on the grounds that the offsets claimed by the Plaintiff for the period from December 2003 to December 2004 were allegedly improper.	35,635	34,457

• Environmental

The indirect electricity transmission subsidiaries LMTE, LXTE and LTTE are party to administrative proceedings related to the alleged violation of licensing conditions.

• Regulatory

The electricity distribution subsidiaries EMT, EMS, ETO, ESS, ERO and EAC have proceedings before ANEEL primarily deriving from the penalty applied as a result of Assessment Notices issued by audits; and

The indirect electricity transmission subsidiary LITE is party to a case for the alleged breach of regulatory deadlines.

Main Cases:

Company	Type	Case	Item	03/31/2026	12/31/2026
LITE	Administrative proceedings	48500.006110/2017-27	ANEEL is seeking to enforce the contract's performance bond as a result of late delivery of the venture. The subsidiary is contending the contractual grounds to enforce the guarantee do not exist, as there are factors justifying the delay.	52,944	51,194

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24. Incorporation of grids - consolidated

In order to be able to meet requests for connections by new consumer units, the applicant, individually or jointly, and the public agencies, including the indirect management, can contribute funds, in part or in full, for the works necessary to bring forward the connection or carry out the works to extend the grid by contracting a legally qualified third party. The funds advanced or the value of the works carried out by the party concerned shall be reimbursed by the subsidiaries EMT, EMS, ETO, EMR and ERO by the year in which the supply application is met according to the Universalization Plans, for cases of consumers meeting the qualification criteria without cost or by the deadlines establishing the regulations addressing the performance with financial participation of the party concerned.

The balances of grid incorporations are subject to arrears and restatement charges in accordance with the resolutions that apply to each case.

Description	03/31/2024	12/31/2025
Balance in 12/31/2025 and 12/31/2024 - current	248,222	260,471
Additions	44,170	159,417
Monetary restatement and interest	5,900	40,830
Payments	(49,988)	(212,496)
Balance in 03/31/2026 and 12/31/2025 - current	248,304	248,222

25. Other liabilities

Description	Parent company		Consolidated
	03/31/2024	12/31/2025	03/31/2024	12/31/2025
Employee and director profit shares	51,862	38,556	252,392	187,885
Payroll payable	9,567	9,694	45,661	46,183
Other employee benefits	1,649	1,901	13,711	14,393
Insurance premiums	14	55	7,624	12,676
Customer/consumer credits	9,008	9,012	131,718	136,473
Withholding of contractual guarantee of contractors	77	77	32,679	35,340
ANEEL inspection fee – monthly contribution	-	-	4,315	4,398
Emergency charges (ECE and EAE)	-	-	18,166	18,166
AIC Reimbursement – AXIA Energia (Eletrobrás) (1)	-	-	23,909	32,829
EBP Reimbursement – Salto Paraíso (2)	-	-	57,458	57,136
Voluntary consumption reduction bonus (3)	-	-	5,241	5,262
Provision for Decommissioning (4)	-	-	160,977	151,643
Effects of reducing ICMS on the PIS and COFINS calculation base (5)	-	-	672,496	679,610
Other accounts payable (6)	2,752	3,313	485,243	456,139
Total	74,929	62,608	1,911,590	1,838,133
Current	65,848	53,523	1,021,843	871,482
Noncurrent	9,081	9,085	889,747	966,651

(1) Reimbursement of Property, plant and equipment in progress - AIC - AXIA Energia (Eletrobrás): denotes the portion to be reimbursed by the subsidiaries ERO and EAC to AXIA Energia (Eletrobrás), the portion to be reimbursed by the subsidiaries ERO and EAC to Eletrobrás, established in the share control purchase and sale contract, denoting non-depreciated amounts of electricity distribution assets recorded in Property, plant and equipment in Progress - AIC in the valuation processes of the regulatory bases ratified by the National Electricity Regulatory Agency - Aneel, through Technical Notes 219/2020 and 220/2020-SFF/ANEEL, which approved the Extraordinary Rate-Setting Review of the subsidiaries ERO and EAC, respectively, which meet the requirements of art. 2 of Draft Law 998, issued October 13, 2020. The payments were agreed upon in 60 installments, where the subsidiary EAC began making payments in October 2021 and the subsidiary ERO in February 2022.

	ERO		EAC		Consolidated
	03/31/2024	12/31/2025	03/31/2024	12/31/2025	03/31/2024	12/31/2025
Balances at 12/31/2025 and 12/31/2024	28,285	54,394	4,544	14,358	32,829	68,752
Payment	(7,607)	(32,944)	(2,533)	(10,968)	(10,140)	(43,912)
Financial restatement - Selic	1,080	6,835	140	1,154	1,220	7,989
Balances at 03/31/2026 and 12/31/2025	21,758	28,285	2,151	4,544	23,909	32,829
Current	21,758	24,244	2,151	4,544	23,909	28,788
Noncurrent	-	4,041	-	-	-	4,041

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(2) Denotes the integration of the connection of the plants at the SE Salto Paraíso with reimbursement to be paid by the subsidiary EMT to EBP (Enel Brasil Participações) by offsetting the credit deriving from the distribution system usage agreement ("CUSD"). The balance is restated monthly by applying the change in the IPCA price index with monthly settlements, commencing in June 2018.

(3) Balance transferable to consumers of DisCo subsidiaries related to the Program encouraging voluntary reduction in electricity consumption introduced by Resolution 2 of August 31, 2021 by the Chamber of Exceptional Rules for Hydroenergy Management operating under the auspices of the Ministry of Mines and Energy.

(4) Estimated values for the demobilization of generation assets that will be incurred by subsidiaries in dismantling equipment and recovering/restoring the site where the photovoltaic plants are installed, upon termination of lease contracts. The estimate was measured based on the present value of the expected costs to settle the obligation, using a discount rate that reflects the business risk, based on Management's best estimate.

(5) Effects of reducing ICMS on the PIS and COFINS calculation base - consolidated.

In March 2017 the Supreme Federal Court (STF) made a ruling with general repercussions (matter 69) and confirmed that ICMS is not subject to PIS and COFINS. However, the Federal Government filed a motion for clarification seeking to mitigate the effects and to determine the amount of ICMS to be excluded from the tax calculation base.

On May 13, 2021 the Federal Supreme Court (STF) fully upheld the General Precedent (Topic 69 - "ICMS is not a component of the PIS and COFINS tax base") to the effect that ICMS amounts stated on invoices should be excluded from the PIS and COFINS tax base.

Aligning itself with the General Precedent, the federal tax authority issued SEI Opinion 7698/2021/ME, as ratified by Administrative Order 246/2021/PGFN-ME, under which tax attorney generals are no longer required to appeal on or dispute any actions relying on General Precedent Topic 69.

The respective Federal Regional Courts delivered final and unappealable decisions in June and July 2019 in the cases of the subsidiaries EPB, EBO and ETO, respectively and in May and June 2020 for Companhia Força e Luz do Oeste (taken over by ESS in 2017) and ESE. The rulings in legal proceedings filed by the subsidiaries ESS (acquiree EBR), EMT, ERO, EAC and EMR (the new name of EMG, that took over ENF) were made final and unappealable on August 17, 2021, September 21, 2021, October 22, 2021, November 12, 2021 and December 06, 2021 respectively. On February 14, 2022 the case of the subsidiary Companhia Nacional de Energia Elétrica was made final and unappealable (company merged into ESS in 2017). The other cases disputing exclusion of ICMS from the PIS and COFINS calculation base are in progress.

Based on assessments by its legal and tax advisors, as well as Ruling No. 246/2021 from the National Treasury Attorney's Office, which approved Opinion SEI No. 7.698/2021-ME, the subsidiaries recognized the related liabilities, net of fees due to attorneys and consultants, and of taxes levied on finance income, corresponding to the application of the SELIC rate variation on the recognized asset. The liability was made because we understand the amounts to be used as tax credits on the contributions will be passed through in their entirety to consumers in accordance with the electric sector's regulatory standards.

On June 27, 2022 Law 14.385 was sanctioned which regulated the rebating of tax overpayments made by public energy distribution service providers.

Art. 3 of this Law also states that in rate processes Aneel shall fully allocate to the users of public services affected in the respective concessional permission area the overpaid amounts refunded by electricity DisCos relating to final and unappealable legal proceedings addressing the exclusion of the ICMS tax from the calculation base of the Contribution to the Social Integration and Public Service Employees Savings Programs (PIS/PASEP contribution) and the Tax for Social Security Financing ("COFINS").

To allocate the above amounts, in its rate processes ANEEL will use the entire credit to be returned to the electricity distribution company less administrative costs and corresponding taxes and the offsetting capacity of this credit (by the distribution company) at the Special Office of the Federal Tax Authorities ("RFB").

The amount will be allocated in annual tax processes after the application submitted to the Special Office of the Federal Tax Authorities ("RFB").

The impacts are summarized as follows:

	Consolidated
	03/31/2024	12/31/2025
Balances at 12/31/2025 and 12/31/2024	679,610	1,328,698
Financial restatement/reversal	(6,264)	55,114
Pass-through of attorneys and consultants' fees and taxes	(850)	(2,798)
Write-off Final and Unappealable Decision EVP (a)	-	(29,314)
ERO and EAC write-off	-	(9,657)
(-) Transfer to sector financial liability-pass-through to Consumers	-	(662,433)
Balances at 03/31/2026 and 12/31/2025	672,496	679,610
Current	347,483	275,505
Noncurrent	325,013	404,105

a) In November 2025, the Company wrote off PIS and COFINS credits on the ICMS base due to the final and unappealable decision in case 5002300-62.2017.4.03.6100, which determined a partial disallowance of the credits that had been calculated by the Company, resulting in

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a write-off of R$ 54,530, of which R$ 29,314 was from the initial recognition and R$ 25,216 monetary restatement. For the credits recorded, the Company had a corresponding liability related to the amounts to be passed through to consumers, which was also written off in the same proportion, with no impact on the Company's profit or loss.

(6) Includes the amount of credits related to distributed generation.

26. Equity

26.1 Share capital

The share capital as of March 31, 2026 is R$ 10,876,550 (R$ 10,876,550 as of December 31, 2025), represented by 2,518,367,130 registered shares (2,518,367,130, as of December 31, 2025), consisting of 975,954,372 (975,954,372 as of December 31, 2025) common shares and 1,542,412,758 (1,542,412,758 as of December 31, 2025) preferred shares, with no par value. The amount of shares converted into units (share certificate denoting ownership of 4 preferred shares and 1 common share of the Company) is 383,183,049 (383,183,049 as of December 31, 2025).

The company recorded the amount of R$ 109,447 (R$ 109,447 as of December 31, 2025) directly in equity regarding transaction costs incurred on funds raised via new share issuances, which were recorded separately as a decrease in equity.

The share capital can be raised up to the limit of 3,000,000,000 shares, with up to 1,000,000,000 common shares and up to 2,000,000,000 preferred shares, subject to resolution of the Board of Directors, which will decide the payment terms, features of the shares to be issued and the issuance price. An amendment to the bylaws is not required for this.

The balance of treasury shares at March 31, 2026 is R$ 33,019 (R$ 33,019 as of December 31, 2025), corresponding to 829,922 units (829,922 as of December 31, 2025).

26.2 Capital reserve

	03/31/2026	12/31/2025
Disposal of treasury stock	1,849	1,849
Transactions between partners (1)	2,472,954	2,488,855
Funding cost - capital increase	(109,447)	(109,447)
Tax incentives for reinvestments (reflective obligation) (2)	43,859	43,859
Variable compensation program (ILP) (3)	54,696	48,155
Total	2,463,911	2,473,271

(1) Transactions amongst partners - since 2019 this includes a deduction of R$ 42,280 for income tax and social contribution payable on the portion of equity appreciation, which was reversed in December 2025 after the share sale.

Transactions between partners	03/31/2026	12/31/2025
Balances at 12/31/2025 and 12/31/2024	2,488,855	1,051,943
Gain/loss on investments in the distribution of dividends in direct and indirect subsidiaries, MTM, debentures subscription and treasury stock (*)	(15,901)	1,436,912
Balances at 03/31/2026 and 12/31/2025	2,472,954	2,488,855

(*) The composition of the movement of R$ 15,901 (R$ 1,436,912 as of December 31, 2025) is detailed in note 15.

(2) Reinvestment tax incentives (reflects) - these are federal benefits deducted from the income tax of subsidiaries, intended for companies with operational ventures in the fields embraced by SUDENE and SUDAM, in the form of reinvestment deposits of 30% (thirty percent) of the tax payable invested in equipment modernization or upgrading projects.

Funds released, less the project management fee of 2%, as per article 19 (2) of Law No. 8.167/1991, were recorded in "Other Capital Reserves" and after their approval by the Agencies and the release of funds by the Official Banks (BNB and BASA), will be capitalized within up to 180 (one hundred and eighty) days, as from the closing of the financial year of the effective releases.

(3) Variable compensation program - ILP - implementation of the Variable Compensation Program through the granting of shares known as the Long-term incentive (ILP) (see note 11). Of the amount of R$ 6,541 (R$ 11,702 as of December 31, 2025), the following were recognized: R$ 1,900 (R$ 2,897 as of December 31, 2025) in the statement of profit or loss and R$ 4,641 (R$ 8,805 as of December 31, 2025) in investments (note 15).

26.3 Dividends

The corporate bylaws determine the distribution of a mandatory dividend of 35% of the net income for the period, adjusted as stipulated by article 202 of Law 6404 issued December 15, 1976, and allows dividends to be paid out in interim results.

26.4 Profits reserve – income tax incentives reserve (subsidiaries)

Because the subsidiaries EPB, ESE, EMT, ETO, EAC, ERO, LXTE and LMTE operate in the infrastructure sector of the North-East region, central and western and northern regions they obtained a reduction to the income tax payable for the purposes of investments in projects expanding their installed capacity, as determined by article 551 (3) of Decree 3000, dated March 26, 1999.

This reduction was approved by the Constitutive Reports, which impose a number of obligations and restrictions:

• The amount obtained as a benefit cannot be distributed to the shareholders;
• The amount should be recorded as a profit reserve and can be used to absorb losses, providing all of the profit reserves have been used up beforehand, except for the legal reserve or capital increase capitalized by December 31 of the following year with the approval of the AGM/AGE; and
• The amount should be invested in activities directly related to production in the region subject to the tax incentive.

See the information about the incentives obtained by the subsidiaries:

Subsidiaries	Governmental Board	Opinion no. constitutive	Income tax decrease		Tax Reinvestment Incentive
			03/31/2026	12/31/2025	03/31/2026	12/31/2025
EPB	SUDENE	20/2020	7,223	102,912	6,252	2,454
ESE	SUDENE	438/2018	13,804	68,089	4,584	-
EMT	SUDAM	0176/2023	5,152	113,376	9,221	-
ETO	SUDAM	0150/2023	18,260	109,737	6,075	3,796
EAC	SUDAM	0018/2021	5,754	10,074	605	-
ERO	SUDAM	0065/2021	7,241	73,863	-	-
LMTE	SUDAM	0069/2018	2,235	4,548	-	-
LXTE	SUDAM	204/2018	-	5,744	-	-
Total			59,669	488,343	26,737	6,250

These amounts will be allocated at year-end to the tax incentive reserve in the subsidiaries' equity.

ENERGISA GROUP
123

26.5 Noncontrolling interests

Movement in noncontrolling interest:

	Equity interest and interest in voting capital	Balance at 12/31/2025	Earnings attributed to noncontrolling interests	Dividends	Other comprehensive income	Transactions between shareholders and ILP	Balance at 03/31/2026
EMT	2.31%	93,030	3,059	(3,846)	-	25	92,268
ETO	23.33%	344,360	20,862	-	-	122	365,344
EMS	0.07%	796	67	-	-	-	863
Rede Power (2)	0.00%	-	-	-	-	-	-
MULTI	0.10%	45	6	(22)	-	-	29
REDE	0.21%	12,353	620	(535)	-	391	12,829
ERO	0.49%	20,754	(36)	-	-	(47)	20,671
EAC	0.23%	5,979	49	(45)	-	(226)	5,757
ESS	0.74%	5,510	50	-	(1)	2	5,561
EPM (1)	0.00%	-	-	-	-	-	-
DENERGE (3)	0.00%	-	-	-	-	-	-
NOVA DNERGE (3)	0.01%	427	22	-	-	-	449
GEMINI	31.62%	216,700	7,968	-	-	2	224,670
ALSOL	10.30%	72,177	(2,557)	-	-	46	69,666
AGRIC	16.67%	9,411	(748)	-	-	(154)	8,509
LUREAN	48.00%	16,422	(483)	-	-	6,986	22,925
EPNE	45.00%	840,336	63,820	(133,483)	-	16,841	787,514
CLARKE	29.96%	870	(125)	-	-	-	745
EDGNE (2)	49.00%	346,955	16,569	-	-	-	363,524
Total		1,986,125	109,143	(137,931)	(1)	23,988	1,981,324
	Equity interest and interest in voting capital	Balance at 12/31/2024	Earnings attributed to noncontrolling interests	Dividends	Expired Dividends	Other comprehensive income	Capital Increase/Decrease and Share (sale)
---	---	---	---	---	---	---	---
EMT	2.31%	101,542	19,114	(27,763)	19	78	-
ETO	23.33%	311,382	100,686	(68,429)	-	471	-
EMS	0.07%	851	234	(295)	-	5	-
Rede Power (2)	0.00%	46	13	-	-	-	-
CTCE	0.00%	(52)	(2)	-	-	-	-
MULTI	0.10%	33	20	(10)	2	-	-
REDE	0.20%	10,429	2,952	(2,599)	-	34	-
ERO	0.49%	21,360	3,288	0	-	8	-
EAC	0.23%	6,993	(10)	(15)	-	-	-
ESS	0.74%	4,680	1,041	(248)	1	32	-
EPM (1)	0.00%	3,017,173	478,682	(716,443)	-	(126)	(1,313,650)
DENERGE (3)	0.00%	591	169	-	-	-	-
NOVA DNERGE (3)	0.01%	-	(4)	-	-	1	366
GEMINI	31.62%	200,899	22,650	(6,854)	-	(1)	-
ALSOL	10.30%	80,076	(8,564)	-	-	-	-
AGRIC	16.67%	10,726	(1,315)	-	-	-	-
LUREAN	48.00%	-	565	-	-	-	15,857
EPNE	45.00%	726,285	255,405	(174,693)	-	822	-
CLARKE	29.96%	2,288	(1,738)	-	-	-	-
EDGNE (2)	49.00%	368,422	52,447	(41,297)	-	-	-
Total		4,863,724	925,633	(1,038,646)	22	1,324	(1,297,427)

(1) On September 17, 2025, there was a share capital reduction at the subsidiary EPM, with R$ 279,300 returned in cash to the noncontrolling shareholder in proportion to its ownership interest, in accordance with the investment agreement, and in December 2025 the noncontrolling shareholder sold ownership of its preferred shares to the Company, resulting in EPM becoming 100% owned by Energisa S/A, in the amount of R$ 1,034,350;
(2) Merged companies: Rede Power merged into Rede Energia and EDGNE merged into EDG;
(3) In November 2025, the subsidiary Energisa Transmissão de Energia S/A sold the shares of Nova Denerge (formerly Nova Gemini) to Energisa S/A. Subsequently, on November 29, 2025, Energisa S/A increased Nova Denerge's share capital by R$ 2,559,399, via the contribution of 776,438 (seven hundred seventy-six thousand, four hundred thirty-eight) shares issued by Denerge and owned by Energisa,

representing 99.99% of Denerge's share capital. As a result of this transaction, Denerge became controlled by Nova Denerge, and Nova Denerge by Energisa S/A.

27. Operating revenue

27.1 Gross operating revenue - parent company

	03/31/2026	03/31/2025
Operating revenue
Specialized services (1)	106,973	102,836
Deductions from operating revenue
PIS	(1,766)	(1,698)
COFINS	(8,135)	(7,821)
ISS	(2,648)	(2,739)
Net operating revenue	94,424	90,578

(1) Refers to administrative services and the sharing of human resources provided to its subsidiaries.

27.2 Operating revenue - consolidated

	03/31/2026			03/31/2025
	No. of consumers (1)	MWh (1 and 2)	R$	No. of consumers (1)	MWh (1 and 2)	R$
Residential	7,712,061	4,149,255	3,989,225	7,497,657	4,191,504	3,798,682
Industrial	39,167	173,146	218,506	38,510	244,938	261,040
Commercial	546,357	968,360	1,107,260	551,682	1,102,463	1,134,298
Rural	628,916	666,679	692,964	645,208	709,856	681,074
Public authorities	79,411	448,450	431,991	77,499	474,921	421,647
Public lighting	9,909	349,313	195,493	8,416	357,224	186,197
Public service	11,013	151,826	134,476	10,459	180,518	143,724
Company consumption	1,809	11,760	-	1,795	12,046	-
Subtotal	9,028,643	6,918,789	6,769,915	8,831,226	7,273,470	6,626,662
Electricity sales to concession operators	2	693,723	148,277	2	363,804	280,593
Sales not invoiced net	-	(59,996)	(88,925)	-	(118,801)	(78,879)
Provision of the transmission and distribution system	10,208	-	1,188,681	7,127	-	891,464
Energy sold to free clients	-	2,191,549	509,878	-	2,136,535	355,140
Contract asset compensation - electricity transmission	-	-	250,518	-	-	301,901
Revenue from construction performance obligation margins	-	-	13,660	-	-	12,407
Transmission infrastructure maintenance and operation revenue	-	-	18,750	-	-	17,224
Efficiency gains/losses on implementing infrastructure	-	-	(1,554)	-	-	594
Infrastructure construction revenue (3)	-	-	1,322,130	-	-	1,156,374
Specialized services	-	-	143,200	-	-	123,833
Regulatory Penalties	-	-	(58,004)	-	-	(57,247)
Fair value of concession financial asset	-	-	258,813	-	-	300,500
Creation and amortization of financial sector assets and liabilities	-	-	847,220	-	-	556,600
Subsidies for service awarded under concession (CDE and low-income)	-	-	952,976	-	-	675,528
Piped gas distribution segment revenue (4)	-	-	144,003	-	-	170,581
Other operating revenue (5)	-	-	105,622	-	-	108,337
Total - gross operating revenue	9,038,853	9,744,065	12,525,160	8,838,355	9,655,008	11,441,612
Deductions from operating revenue
ICMS	-	-	1,499,695	-	-	1,387,433
PIS	-	-	157,320	-	-	143,173
COFINS	-	-	725,094	-	-	658,745
CPRB	-	-	1,091	-	-	902
ISS	-	-	10,480	-	-	8,378
Energy Efficiency Program - PEE -	-	-	33,458	-	-	28,009

	03/31/2026			03/31/2025
	No. of consumers (1)	MWh (1 and 2)	R$	No. of consumers (1)	MWh (1 and 2)	R$
Consumer charges - Procel	-	-	2,575	-	-	6,066
Energy Development Account - CDE	-	-	1,054,518	-	-	756,429
Research and Development Program - R&D	-	-	26,389	-	-	14,019
National Scientific and Technological Development Fund - FNDCT	-	-	5,148	-	-	12,146
Ministry of Mining and Energy - MME	-	-	2,575	-	-	6,066
Inspection fee for electricity services - TFSEE	-	-	11,612	-	-	10,630
Total - deductions from operating revenue	-	-	3,529,955	-	-	3,031,996
Total - net operating revenue	9,038,853	9,744,065	8,995,205	8,838,355	9,655,008	8,409,616

(1) Information not reviewed by the independent auditors.
(2) MWh: refers to the captive market, excluding the compensated portion from Type II/III distributed micro and mini generation (MMGD).
(3) Of the concession's total infrastructure construction revenue, the amount of R$ 1,265,176 (R$ 1,095,153 as of March 31, 2025) denotes the construction revenue of the distribution subsidiaries, R$ 39,993 (R$ 44,069 as of March 31, 2025) denotes the construction revenue of the transmission subsidiaries, and R$ 16,961 (R$ 114,254 as of March 31, 2024) denotes the construction revenue of the piped gas distribution subsidiary. Additionally, the total construction cost for the electricity and gas distribution segment is the same as the segment's construction revenue.
(4) Piped gas distribution segment revenue, including construction revenue.

	03/31/2026		03/31/2025
	Volume (thousand m³) (1)	R$	Volume (thousand m³) (1)	R$
Gross Revenue
Individual Residential	240	1,510	162	1,277
Collective Residential	1,492	7,611	1,339	7,641
Industrial	153,795	108,102	134,249	122,914
Commercial	1,257	6,891	1,109	5,752
Air coolers	50	323	29	268
Raw Materials	2,922	970	3,807	283
Vehicles	4,518	12,674	5,318	17,298
Thermal	388	177	856	1,938
Technical assistance services	-	54	-	51
Capacity charges (Ship or pay)	-	361	-	676
Take or pay revenue variance recoverable on receivables	-	215	-	4,094
Escrow account - Cost of piped gas in the rate	-	1,367	-	4,516
PRC of thermal power plants	-	173	-	145
Capacity charges (Free Market)	-	3,073	-	3,495
CCD	-	537	-	234
Construction revenue (**)	-	16,961	-	17,152
Deductions	-	(35)	-	(4)
Total - gross operating revenue	164,662	160,964	146,869	187,730
ICMS	-	(10,246)	-	(15,611)
PIS	-	(2,018)	-	(2,587)
COFINS	-	(9,294)	-	(10,960)
ISS	-	(2,703)	-	(1,582)
Total - deductions from operating revenue	-	(24,261)	-	(30,740)
Total - net operating revenue	164,662	136,703	146,869	156,990

() Not revised by the independent auditors
(*) Contractual revenue due to customer migration to the free market
(5) Includes rental revenue for mutual use of poles, taxed services, administration commission and other.

28. Electricity purchased for resale - consolidated

Consolidated
	MWH (1)		Amounts in R$ thousand
	03/31/2026	03/31/2025	03/31/2026	03/31/2025
Energy from Itaipú - Binational	819,670	847,001	177,068	195,441
Auction energy (2)	5,643,638	5,358,211	1,895,127	1,302,418
Bilateral energy and other supplies	957,257	1,027,971	920,815	736,788
CCC reimbursement	-	-	(36,352)	(28,023)
Angra quotas	178,205	304,689	84,193	85,702
Spot electricity - CCEE (3)	89,512	78,365	209,190	372,299
Physical Guarantee Quotas	1,016,478	1,373,965	113,047	238,203
Alternative Energy Sources Incentive Program - PROINFA	140,500	155,687	102,997	121,496
(-) Recoverable portion of noncumulative PIS/COFINS	-	-	(311,510)	(283,264)
Total	8,845,260	9,145,889	3,154,575	2,741,060

(1) Information not reviewed by the independent auditors.
(2) As of March 31, 2026, this includes R$ 1,638 (R$ 41,585 as of March 31, 2025) of reversed distributed-generation credits.
(3) Include other costs: effects of CCEARs, injunctions/energy auction adjustments, physical guarantee quota effects, nuclear energy quota effects, Itaipu quota exposure, System Service Charges – ESS and Reserve Energy Charges – ERR.

29. Other Income

	Parent company		Consolidated
	03/31/2026	03/31/2025	03/31/2026	03/31/2025
Other Revenues
Gains on the deactivation/sale of assets and rights	-	-	10,478	12,543
Other	47	67	4,864	563
Subtotal Other Revenue	47	67	15,342	13,106
Other Expenses
Losses on the deactivation/sale of assets and rights	-	(19)	(76,700)	(46,016)
Mark-to-market of contracts (1)	-	-	33,711	(74,366)
Other	-	-	(7,793)	(27,684)
Subtotal Other Expenses	-	(19)	(50,782)	(148,066)
Net balance of other income (expenses)	47	48	(35,440)	(134,960)

(1) Consolidated energy sales include the mark-to-market of energy trading contracts, amounting to a gain as of March 31, 2026 of R$ 33,711 (loss R$ 74,366 as of March 31, 2025). The subsidiary ECOM operates in the Free Contracts System ("ACL") and signed bilateral energy purchase and sale contracts with the counterparties. These transactions resulted in a loss and gain with an energy surplus, which was recognized at fair value. Realization of the fair value through the physical settlement of energy purchase and sale contracts in the consolidated statement, as shown below:

	03/31/2026	03/31/2025
Mark-to-market of energy trading sale contracts	240,777	44,270
Mark-to-market of energy trading purchase contracts	(203,630)	(121,886)
Subtotal	37,147	(77,616)
(-) PIS and COFINS Taxes	(3,436)	3,250
Effect net of taxes	33,711	(74,366)

30. Earnings per share

Diluted profit per share is calculated by adjusting the weighted average number of outstanding shares to assume the conversion of all diluted shares by exercisable share call options. The number of shares calculated is compared with the number of shares issued assuming the exercise of the stock options. Basic earnings per share are diluted as follows:

	03/31/2026	03/31/2025
Net income for the period - parent company	465,627	775,736
Weighted average in thousands of shares	2,514,218	2,285,652
Basic net income per share - R$	0.19	0.34
Net income for the period - consolidated	574,770	1,026,715
Earnings on continued operation:
Shareholders of parent	465,627	775,736
Noncontrolling shareholders	109,143	250,979
Net income for the period - parent company	465,627	775,736
Weighted average in thousands of shares	2,514,218	2,285,652
Dilutive effect ILP program	1,867	2,132
Diluted net income per share - R$ (1)	0.18	0.34
Net income for the period - consolidated	574,770	1,026,715

(1) Potential diluting effect:
- Variable compensation program (ILP)
- The indirect subsidiaries LXTE and LMTE have convertible debentures and call options for the same shares, as disclosed in note no. 20.

31. Financial instruments and risk management

31.1 Fair value hierarchy

The different levels were assigned as follows:

• Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.
• Level 2 inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (prices) or indirectly (derived from prices).
• Level 3 - Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Because the electricity distribution subsidiaries have classified the concession financial asset as the best estimate of the fair value through profit and loss, the relevant factors for the fair value appraisal are not publicly observable, meaning the fair value hierarchy is classified at level 3. The change and respective restatements in profit or loss for the period were R$ 258,813 (R$ 300,500 as of March 31, 2025) and the main assumptions used, can be seen in note 13.1.

The carrying amounts, fair values and hierarchical levels of the principal financial instrument assets and liabilities have been compared below:

Parent company
	Level	03/31/2026		12/31/2025
		Carrying amount	Fair value	Carrying amount	Fair value
Assets
Amortized cost
Cash and cash equivalents		362,556	362,556	352,524	352,524
Money market and secured funds		6,261,451	6,261,451	6,153,279	6,153,279
Receivables		73,160	73,160	77,246	77,246
Notes and credits receivable		25	25	25	25
Related-party credits		398,394	398,394	382,033	382,033
		7,095,586	7,095,586	6,965,107	6,965,107
Fair value through profit or loss
Money market and secured funds	2	2,898,388	2,898,388	2,790,840	2,790,840
Financial instruments - Share purchase options (1)	3	241,510	241,510	188,183	188,183
		3,139,898	3,139,898	2,979,023	2,979,023
Liabilities
Amortized cost
Trade payables		14,442	14,442	57,894	57,894
Loans, financing, debentures and debt charges		8,366,734	8,373,364	8,476,961	8,495,913
Operating leases		3,798	3,798	3,722	3,722
		8,384,974	8,391,604	8,538,577	8,557,529
Fair value through profit or loss
Loans, financing, debentures and debt charges		4,152,909	4,152,909	4,431,659	4,431,659
Derivative financial instruments	2	775,912	775,912	407,608	407,608
		4,928,821	4,928,821	4,839,267	4,839,267
Consolidated
---	---	---	---	---	---
	Level	03/31/2026		12/31/2025
		Carrying amount	Fair value	Carrying amount	Fair value
Assets
Amortized cost
Cash and cash equivalents		1,140,421	1,140,421	1,386,005	1,386,005
Clients, consumers, concession operators and other		5,032,474	5,032,474	5,194,740	5,194,740
Credit receivables		13,406	13,406	10,684	10,684
Sector financial assets		2,076,536	2,076,536	1,716,101	1,716,101
		8,262,837	8,262,837	8,307,530	8,307,530
Fair value through profit or loss
Money market and secured funds	2	11,179,410	11,179,410	9,562,086	9,562,086
Concession financial asset	3	18,716,426	18,716,426	17,715,205	17,715,205
Derivative financial instruments	2	434,836	434,836	708,241	708,241
Derivative financial instruments - Future energy contracts	2	44,793	44,793	11,946	11,946
Financial instruments - Share purchase options (1)	3	241,510	241,510	188,183	188,183
		30,616,975	30,616,975	28,185,661	28,185,661
Liabilities
Amortized cost
Trade payables		3,156,577	3,156,577	3,058,250	3,058,250
Loans, financing, debentures and debt charges		24,633,831	24,676,636	24,549,857	24,642,236
Operating leases		151,062	151,062	148,113	148,113
Sector financial liabilities		905,821	905,821	1,300,234	1,300,234
Tax financing		252	252	378	378
		28,847,543	28,890,348	29,056,832	29,149,211

Fair value through profit or loss

Consolidated
	Level	03/31/2026		12/31/2025
		Carrying amount	Fair value	Carrying amount	Fair value
Assets
Loans, financing, debentures and debt charges		21,360,390	21,360,390	20,346,522	20,346,522
Derivative financial instruments	2	2,414,487	2,414,487	1,162,009	1,162,009
Derivative financial instruments – Future energy contracts	2	65,199	65,199	69,498	69,498
		23,840,076	23,840,076	21,578,029	21,578,029

(1) Stock option plan:

Itaú Unibanco S/A

On December 27, 2018 the Board of Directors approved the investment agreement with Itaú Unibanco S/A ("Itaú") regulating the general terms and conditions for Itaú to enter as a preferred shareholder in the share ownership structure of the subsidiary EPM. The agreement afforded the Company the right to buy back all of its preferred shares in EPM, exercisable between February 10, 2027 and December 31, 2032. It also established that any and all dividends must first be paid on the preferred shares, until the total amount paid equals 55% of EPM's net income, as per the shareholders' agreement.

On December 12, 2025, Itaú and the Company entered into the share purchase and sale agreement ("SPA"), through which Itaú sold all preferred shares it held in subsidiary EPM to the Company, in the amount of R$ 1,034,350, and the shareholders' agreement in force up to that date was rescinded and fully terminated by operation of law and without any legal effect for all purposes. The Company came to hold 100% of the issued common and preferred shares of EPM and the corresponding financial instrument – call option on shares was written off.

Banco Bradesco S/A

On September 11, 2024 the Company entered the investment agreement with Banco Bradesco S/A regulating the general terms and conditions for Bradesco to enter as a preferred shareholder in the share ownership structure of the subsidiary Energisa Participações Nordeste S/A (EPNE). The rights and obligations of the Company and Bradesco, as EPNE shareholders, were set out in a shareholders' agreement between the parties. The Agreement afforded the Company a call option to purchase all of Bradesco's preferred shares, exercisable between the 4th and 10th anniversary of the closing of the transaction. It also established that any and all dividends must first be paid on the preferred shares, until the total amount paid equals 45% of EPNE's net income.

Upon completion of the transaction, Bradesco became the holder of all preferred shares issued by EPNE, representing 23.64% of its total share capital. The Company, in turn, holds all common shares issued by EPNE, thereby holding a 76.36% interest in its total share capital.

The fair value measurement of these instruments is based on unobservable inputs, given that these shares are subject to a call option whose value is calculated based on the capital contribution made by the noncontrolling shareholder, adjusted for 100% of the CDI rate plus a spread, less distributed dividends (strike price). The model used to measure the fair value of the call options is a variant of the Monte Carlo model, which is widely used and recognized in the market for this type of option, and provides the necessary flexibility to incorporate all contractual conditions. The data used in these calculations was obtained from reliable and market-based sources, such as B3 S.A. – Brasil, Bolsa, Balcão and BACEN, whenever applicable. The noncontrolling shareholder does not have the put option, where the noncontrolling shareholder's equity risk is controlled by the parent company, which can decide whether or not to exercise the call option.

As of March 31, 2026 the Level 3 financial instruments at fair value is R$ 241,510 (R$ 188,183 as of December 31, 2025), which is the fair value as determined by Management, recognized in the parent-company and consolidated statement of profit or loss.

31.2 Financial instruments categories

Hedge Accounting

The Company and its subsidiaries formally classified part of its swap transactions (hedge instruments) used to swap exchange variance and interest variance for CDI variance as hedge accounting. These transactions and the debts (subject to hedges) are being valued as fair value hedges. In these hedge designations, the Company and its subsidiaries documented: (i) the hedge ratio; (ii) the risk management goal and strategy; (iii) the financial instrument's identification; (iv) the item or transaction covered; (v) the nature of the risk to be covered; (vi) the description of the coverage relation; (vii) statement of the correlation between the hedge and the hedged item; and (viii) statement of the hedge's effectiveness.

ENERGISA GROUP
110

Swap contracts are designated and effective as fair value hedges in relation to the exchange variance and/or interest rate, when applicable. During the period the hedge was highly effective in the exposure of fair value to change in interest rates and as a consequence, the carrying amount of securities classified as hedge was impacted by R$ 1,250,007 (debtor) (R$ 205,753 as of March 31, 2025) and recognized in financial income at the same time as the fair value of the interest rate swap was recognized in profit or loss.

Fair Value Option

The Company and its subsidiaries opted to formally classify debt securities secured in the period, for which the Company and its subsidiaries have derivative financial instruments to swap exchange and interest rate variance, as measured at fair value. The fair value option aims to eliminate or reduce inconsistency in the measurement or recognition of certain liabilities, which would otherwise arise. Both the swaps and the respective debts can therefore be measured at fair value and this option is irreversible, and should only be made upon initial recognition of the transaction. As of March 31, 2026, these debts and derivatives, and any other assets and liabilities measured at fair value through profit or loss have any gains or losses resulting from their remeasurement recognized in the Company's profit and loss.

During the period ended March 31, 2026, the carrying amount of debts classified as "Fair Value Option" was impacted by R$ 32,685 (debtor) (R$ 64,838 debtor as of March 31, 2025) and recognized in consolidated finance income at the same time the interest rate swap's fair value was recognized in finance income/loss.

31.3 Risk management

Financial risk management

The Board of Directors is generally responsible for establishing and supervising the risk management model of the Company and its subsidiaries. The Company has therefore implemented operating limits with pre-established amounts and indicators in the "Financial Risk Management policy" (reviewed annually and available on the Company's site) and in the internal regulations of the Executive Board of the Company and its subsidiaries.

The Risk Management Committee, consisting of the Financial Board and specialist independent consultant, monitors compliance of operations with the "Financial Market Risk Management Policy" by way of the Quarterly Risk Management Report.

Furthermore, the Company and its subsidiaries' risk management aims to detect, analyze and monitor risks encountered, in order to establish limits and check compliance with them. For this, the Company and its subsidiaries have been using the services of an independent company specialized in cash and debt risk management, which means that the main macroeconomic metrics and their impact on results are monitored on a daily basis, in particular derivative transactions. This allows contracting and repositioning strategies to be devised, pursuing low risk and higher finance income.

a) Capital Risk

The debt index at the end of the period is the following:

	Consolidated
	03/31/2026	12/31/2025
Debt (1)	45,994,221	44,896,379
Cash and cash equivalents	(1,140,421)	(1,386,005)
Net debt	44,853,800	43,510,374
Equity	19,654,194	19,198,419
Net debt index	2.28	2.27

(1) The debt is defined as short and long-term loans, financing and debentures (excluding derivatives and financial surety contracts) and debt charges, as detailed in notes 19 and 20.

b) Liquidity risk

By way of the projected cash flow, Management schedules its obligations to generate financial liabilities to the

ENERGISA GROUP
131

EARNINGS RELEASE
1Q26
ENERGISA GROUP
ENERGYE ENERGISA

flow of receipts or sources of financing in order to ensure the greatest possible liquidity so as to honor its obligations, thereby avoiding default which hinders the operational progress of Energisa and its subsidiaries.

The contractual maturities of the main financial liabilities, including estimated interest payments until the original contractual maturity and excluding the impact of currency trading agreements at the net position are as follows:

Barron company
	Average effective weighted interest rate (%) months	Up to 6 months	6 to 12 months	1 to 3 years	3 to 5 years	Over 5 years	Total
Trade payables		7,867	-	-	-	6,575	14,442
Loans and financing, debt charges and debentures.	16.60%	1,665,989	999,880	2,765,464	8,231,029	6,032,262	19,694,624
Derivative Financial Instruments		27,790	7,571	60,489	124,188	555,874	775,912
Derivative Financial Instruments - Other (*)		-	-	-	-	(241,510)	(241,510)
Total		1,701,646	1,007,451	2,825,953	8,355,217	6,353,201	20,243,468
Consolidated
---	---	---	---	---	---	---	---
	Average effective weighted interest rate (%) months	Up to 6 months	6 to 12 months	1 to 3 years	3 to 5 years	Over 5 years	Total
Trade payables		3,018,468	-	-	-	138,109	3,156,577
Loans and financing, debt charges and debentures.	14.37%	7,243,080	2,878,815	15,251,222	25,755,340	35,456,680	86,585,137
Derivative Financial Instruments		424,271	89,937	160,443	242,141	1,062,858	1,979,650
Derivative Financial Instruments - Other (*)		-	44,646	-	-	(265,749)	(221,103)
Total		10,685,819	3,013,398	15,411,665	25,997,481	36,391,898	91,500,261

Under Brazil's energy model, electricity acquired by energy distribution companies is mainly produced by hydroelectric power plants. A prolonged drought could cause power plant reservoir levels to plummet, resulting in the need to use thermal power plants, which could increase costs for distribution companies. This situation could exert pressure on the distribution companies' cash levels in the short term, leading the government to introduce measures to calibrate the system, such as increasing future rates and rate tiers. Coupled with the constant monitoring of the commitments undertaken by the electricity distribution subsidiaries in their energy purchase agreements, these initiatives help to diminish the subsidiaries' exposure to energy cost oscillations.

c) Credit risk

Management believes the risks posed by its cash and cash equivalents, short-term investments and derivative financial instruments are minimal, as there is no concentration and transactions are conducted with banks which assess risk in accordance with the "Financial Risk Management policy". The Board of Directors' Audit Committee was convened in the first quarter of 2010 to oversee the group's management, according to the rules and principles established in the policy.

The credit risk, especially that of Energisa Group's distribution companies, is posed by trade accounts receivable, consumers, concession operators and others, which is, however, mitigated by sales to a broad consumer base and legal prerogatives which allow the provision of services to most defaulting clients to be suspended.

The concession financial asset consisting of estimated portion of capital invested in public service infrastructure not completely amortized by the end of the concession will be an unconditional right to receive money or other financial asset from the concession authority, as compensation for the infrastructure investment.

Sector financial assets denote assets deriving from temporary differences between the ratified costs of Parcel A and other financial components, constituting a right receivable from its electricity distribution subsidiaries. These amounts are effectively settled during the coming rate periods, or in the event the concession is terminated with balances that have not been recovered, they will be included in the compensation base that exists in the case of termination for any reason of the concession.

Exposure to credit risk

The carrying amount of financial assets denotes the maximum exposure to credit risk at the reporting date.

	Note	Parent company		Consolidated
		03/31/2026	12/31/2025	03/31/2026	12/31/2025
Cash and cash equivalents	5.1	362,556	352,524	1,140,421	1,386,005
Money market and secured funds	5.2	9,159,839	8,944,119	11,179,410	9,562,086
Clients, consumers, concession operators and other	6	73,160	77,246	5,032,474	5,194,740
Credit receivables	-	25	25	13,406	10,684
Sector financial assets	9	-	-	2,076,536	1,716,101
Concession financial asset	13	-	-	18,716,426	17,715,205
Derivative financial instruments	31	-	-	479,629	720,187

d) Interest and exchange rate risk

The Company's and its subsidiaries' debts are composed mainly of funds raised through national development agents, capital markets (debentures and commercial papers), and bank loans, denominated in Brazilian Reais and foreign currencies, resulting in exposure to risks of exchange rate variance, interest rates and price indexes. As part of their risk management strategy, the Company and its subsidiaries use derivative financial instruments to hedge against these variations.

The consolidated bank debts and issuances of the Company and its subsidiaries as of March 31, 2026, excluding the effects of funding costs, stand at R$ 46,603,234 (R$ 45,456,573 as of December 31, 2025) and R$ 5,034,388 (R$ 5,877,295 as of December 31, 2025) is denominated in foreign currencies, as per notes 19 and 20.

The US dollar exchange rate for funding denominated in foreign currencies, mainly the US dollar, closed the period ended March 31, 2026 down by 5.14% over December 31, 2025, quoted at R$ 5.2194/USD (R$ 5.5024/USD as of December 31, 2025). The historic volatility of the US dollar as of March 31, 2026 was 10.56%, compared with 10.12% as of December 31, 2025.

The parent company and consolidated statement of financial position the following balances denoting the mark-to-market of the financial derivatives related to the foreign exchange rate and interest, resulting from a combination of factors usually adopted for the mark-to-market of these instruments, such as volatility, currency coupon, interest rates and the exchange rate.

The Company and its subsidiaries have hedged 100% of the forex-indexed liabilities against adverse exchange variance, thereby hedging the principal and interest through maturity. These hedges are split into the following instruments:

Company / Operation	Notional (USD)	Financial Cost (% p.a.)		Maturity	Description
		Long position	Short position
ESA - Parent company
Resolution 4131 - Citibank	45,353	(SOFR + 0.53%) x 117.647%	CDI + 0.50%	06/17/2026	Fair Value Option
EMR
Resolution 4131 - Scotiabank	18,197	USD + 5.3160%	CDI + 1.10%	12/16/2027	Fair Value Option
EMT
Resolution 4131 - Scotiabank	49,201	USD + 5.9150%	CDI + 1.40%	08/09/2027	Fair Value Option
Resolution 4131 - Citibank	58,824	SOFR + 1.50%	CDI + 1.25%	06/14/2028	Fair Value Option
ETO
Resolution 4131 - Scotiabank	31,071	USD + 5.5755%	CDI + 1.40%	08/16/2027	Fair Value Option
Resolution 4131 - Scotiabank	21,466	USD + 5.1955%	CDI + 1.10%	12/16/2027	Fair Value Option
ESS
Resolution 4131 - Santander	18,007	USD + 6.38%	CDI + 1.25%	07/23/2026	Fair Value Option
Resolution 4131 - Scotiabank	45,784	USD + 5.9150%	CDI + 1.40%	08/09/2027	Fair Value Option
Resolution 4131 - Scotiabank	8,271	USD + 5.3160%	CDI + 1.10%	12/16/2027	Fair Value Option
ERO
Resolution 4131 - Santander	53,626	USD + 6.35%	CDI + 1.25%	07/23/2026	Fair Value Option
Resolution 4131 - Scotiabank	12,300	USD + 5.9150%	CDI + 1.40%	08/09/2027	Fair Value Option
Resolution 4131 - Citibank	39,548	SOFR + 0.5806%	CDI + 0.45%	09/28/2026	Fair Value Option
Resolution 4131 - Citibank	41,376	SOFR + 1.47%	CDI + 1.10%	06/14/2027	Fair Value Option
ECOM
Resolution 4131 - BOCOM BBM	7,820	USD + 7.24%	CDI + 1.42%	05/27/2026	Fair Value Option
Resolution 4131 - BOCOM BBM	9,195	USD + 5.56%	CDI + 1.15%	09/05/2028	Fair Value Option
Resolution 4131 - BOCOM BBM	6,421	USD + 5.10%	CDI + 0.60%	12/17/2027	Fair Value Option
Resolution 4131 - Bank of America	18,972	USD + 5.1765%	CDI + 0.55%	03/31/2028	Fair Value Option
EMS
Resolution 4131 - Bank of America	36,495	USD + 6.2824%	CDI + 1.25%	07/24/2026	Fair Value Option
Resolution 4131 - Scotiabank	28,744	USD + 5.9150%	CDI + 1.40%	08/09/2027	Fair Value Option
Resolution 4131 - Citibank	47,089	SOFR + 1.50%	CDI + 1.25%	06/14/2028	Fair Value Option
ESE
Resolution 4131 - Citibank	71,560	(SOFR + 0.93%) x 117.647%	CDI + 1.25%	07/23/2026	Fair Value Option
ALSOL
Resolution 4131 - Scotiabank	33,096	USD + 5.36%	CDI + 0.95%	01/21/2028	Fair Value Option
EPB
Resolution 4131 - Santander	30,388	USD + 6.35%	CDI + 1.25%	07/23/2026	Fair Value Option
Resolution 4131 - Citibank	22,540	(SOFR + 0.93%) x 117.647%	CDI + 1.25%	07/23/2026	Fair Value Option
Resolution 4131 - Bank of America	36,456	USD + 5.2471%	CDI + 0.45%	09/10/2026	Fair Value Option
ES GÁS
Resolution 4131 - Scotiabank	82,857	USD + 5.9150%	CDI + 1.40%	08/09/2027	Fair Value Option
Resolution 4131 - J.P. Morgan	27,248	USD + 5.3294%	CDI + 0.50%	06/23/2026	Fair Value Option
ETE
Resolution 4131 - Bank of America	15,690	USD + 6.1882%	CDI + 0.69%	12/22/2026	Fair Value Option
LXTE
Resolution 4131 - BOCOM BBM	9,432	USD + 5.22%	CDI + 0.73%	09/16/2027	Fair Value Option
LMTE
Resolution 4131 - BOCOM BBM	16,223	USD + 5.22%	CDI + 0.73%	09/16/2027	Fair Value Option
AGRIC
Resolution 4131 - Citibank	4,577	(SOFR + 0.53%) x 117.647%	CDI + 0.55%	08/10/2026	Fair Value Option
Resolution 4131 - BOCOM BBM	968	USD + 5.03%	CDI + 0.40%	03/15/2027	Fair Value Option
LUREAN
Resolution 4131 - BOCOM BBM	55,536	CNH + 2.70%	CDI + 0.20%	03/19/2027	Fair Value Option

The Company also has swaps (fixed rates, CDI, TJLP, among others) for the notional value of its local currency debt (Reais). See below the interest swaps:

Company / Operation	Notional (BRL)	Financial Cost (% p.a.)		Maturity	Description
		Long position	Short position
ESA - Parent company
XP	159,636	IPCA + 6.1666%	CDI + 0.65%	09/16/2030	Fair Value Hedge
XP	430,302	IPCA + 6.4526%	CDI + 0.90%	09/15/2033	Fair Value Hedge
BTG Pactual	280,859	IPCA + 6.4526%	CDI + 0.88%	09/15/2033	Fair Value Hedge
Bradesco	280,858	IPCA + 6.4526%	CDI + 0.891%	09/15/2033	Fair Value Hedge
XP	592,806	IPCA + 6.1581%	CDI + 0.15%	04/15/2031	Fair Value Hedge
Bradesco	725,037	IPCA + 6.4045%	CDI + 0.44%	04/15/2039	Fair Value Hedge
XP	521,719	IPCA + 4.4744%	CDI - 1.54%	10/15/2030	Fair Value Hedge
BTG Pactual	668,259	IPCA + 6.4364%	CDI + 0.04%	09/15/2034	Fair Value Hedge
EMR

Company / Operation	Notional (BRL)	Financial Cost (% p.a.)		Maturity	Description
		Long position	Short position
J.P. Morgan	1,261	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
Bradesco	159,000	IPCA + 7.2318%	CDI - 0.25%	10/15/2035	Fair Value Hedge
Bradesco	106,000	IPCA + 7.1146%	CDI - 0.19%	10/15/2040	Fair Value Hedge
EMT
J.P. Morgan	3,657	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
Itaú	181,887	IPCA + 4.88%	CDI + 0.02%	10/15/2026	Not Designated
BR Partners	351,475	IPCA + 6.0872%	CDI + 0.705%	10/15/2031	Fair Value Hedge
BR Partners	164,437	IPCA + 6.1566%	CDI + 0.717%	04/15/2029	Fair Value Hedge
BR Partners	95,563	IPCA + 6.2770%	CDI + 0.880%	04/15/2032	Fair Value Hedge
Bradesco	354,609	IPCA + 6.1076%	CDI + 0.7275%	02/17/2031	Fair Value Hedge
XP	85,807	IPCA + 4.4744%	CDI - 1.54%	10/15/2030	Fair Value Hedge
BTG Pactual	200,000	IPCA + 7.0292%	CDI - 0.67%	12/15/2034	Fair Value Hedge
Itaú	360,000	BRL + 13.70%	CDI - 0.16%	05/17/2032	Fair Value Hedge
BTG Pactual	531,891	IPCA + 7.0999%	CDI - 0.22%	09/17/2035	Fair Value Hedge
BTG Pactual	435,488	IPCA + 6.9467%	CDI - 0.16%	09/17/2040	Fair Value Hedge
Bradesco	198,000	IPCA + 7.2318%	CDI - 0.25%	10/15/2035	Fair Value Hedge
Bradesco	132,000	IPCA + 7.1146%	CDI - 0.19%	10/15/2040	Fair Value Hedge
Bradesco	370,000	IPCA + 7.47%	CDI + 0.2280%	12/15/2045	Fair Value Hedge
Bradesco	747,373	IPCA + 6.6675%	CDI - 0.65%	02/17/2036	Fair Value Hedge
Bradesco	252,627	IPCA + 6.55%	CDI - 0.61%	02/15/2041	Fair Value Hedge
ETO
J.P. Morgan	3,304	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
J.P. Morgan	82,000	IPCA + 6.0872%	CDI + 0.93%	10/15/2031	Fair Value Hedge
BR Partners	55,689	IPCA + 6.1566%	CDI + 0.717%	04/15/2029	Fair Value Hedge
BR Partners	34,311	IPCA + 6.2770%	CDI + 0.880%	04/15/2032	Fair Value Hedge
Bradesco	387,235	IPCA + 7.30%	CDI + 0.078%	05/15/2035	Fair Value Hedge
Bradesco	460,000	IPCA + 7.50%	CDI + 0.2550%	12/15/2045	Fair Value Hedge
BTG Pactual	282,857	IPCA + 6.6675%	CDI - 0.66%	02/17/2036	Fair Value Hedge
Bradesco	47,143	IPCA + 6.55%	CDI - 0.61%	02/15/2041	Fair Value Hedge
ESS
J.P. Morgan	2,977	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
BR Partners	81,000	IPCA + 6.0996%	CDI + 0.814%	01/15/2032	Fair Value Hedge
ABC Brasil	193,617	IPCA + 7.30%	CDI + 0.055%	05/15/2035	Fair Value Hedge
Bradesco	144,000	IPCA + 7.2318%	CDI - 0.25%	10/15/2035	Fair Value Hedge
Bradesco	96,000	IPCA + 7.1146%	CDI - 0.19%	10/15/2040	Fair Value Hedge
ERO
J.P. Morgan	92,800	IPCA + 6.0872%	CDI + 0.93%	10/15/2031	Fair Value Hedge
Bank of America	253,694	IPCA + 6.1566%	CDI + 0.789%	04/15/2029	Fair Value Hedge
Bank of America	156,306	IPCA + 6.2770%	CDI + 0.945%	04/15/2032	Fair Value Hedge
Itaú	290,000	BRL + 13.70%	CDI - 0.16%	05/17/2032	Fair Value Hedge
Itaú	264,000	IPCA + 7.2856%	CDI - 0.20%	10/15/2035	Fair Value Hedge
Itaú	176,000	IPCA + 7.1683%	CDI - 0.16%	10/15/2040	Fair Value Hedge
ETE
Santander	51,462	IPCA + 5.14%	105.15% CDI	12/15/2028	Fair Value Hedge
XP	101,398	IPCA + 4.4744%	CDI - 1.54%	10/15/2030	Fair Value Hedge
EMS
J.P. Morgan	3,733	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
Itaú	148,501	IPCA + 4.88%	CDI + 0.02%	10/15/2026	Not Designated
J.P. Morgan	320,000	IPCA + 6.0872%	CDI + 0.85%	10/15/2031	Fair Value Hedge
XP	354,609	IPCA + 6.1076%	CDI + 0.72%	02/17/2031	Fair Value Hedge
ABC Brasil	247,164	IPCA + 6.4364%	CDI + 0.04%	09/15/2034	Fair Value Hedge
Itaú	410,000	BRL + 13.70%	CDI - 0.16%	05/17/2032	Fair Value Hedge
Safra	522,349	IPCA + 7.0461%	CDI - 0.31%	09/17/2035	Fair Value Hedge
BTG Pactual	348,390	IPCA + 6.9467%	CDI - 0.16%	09/17/2040	Fair Value Hedge
ESE
J.P. Morgan	2,472	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
Itaú	59,006	IPCA + 4.88%	CDI + 0.02%	10/15/2026	Not Designated
J.P. Morgan	58,928	IPCA + 6.0872%	CDI + 0.93%	10/15/2031	Fair Value Hedge
BR Partners	68,000	IPCA + 5.7360%	CDI + 0.509%	07/15/2027	Fair Value Hedge
Bradesco	338,393	IPCA + 7.1536%	CDI - 0.15%	09/17/2035	Fair Value Hedge
ABC Brasil	232,260	IPCA + 6.9467%	CDI - 0.15%	09/17/2040	Fair Value Hedge
Itaú	171,429	IPCA + 6.6675%	CDI - 0.68%	02/17/2036	Fair Value Hedge
Bradesco	28,571	IPCA + 6.55%	CDI - 0.61%	02/15/2041	Fair Value Hedge
EPB
J.P. Morgan	4,035	IPCA + 5.1074%	103.50% CDI	10/15/2027	Fair Value Hedge
Itaú	49,924	IPCA + 5.11%	CDI + 0.25%	10/15/2026	Not Designated
J.P. Morgan	54,634	IPCA + 6.0872%	CDI + 0.93%	10/15/2031	Fair Value Hedge
BR Partners	63,000	IPCA + 6.0123%	CDI + 0.755%	01/15/2030	Fair Value Hedge
XP	115,293	IPCA + 6.1581%	CDI + 0.15%	04/15/2031	Fair Value Hedge

In accordance with CPC 40 (IFRS 7), the values of the Company and its subsidiaries' derivative financial instruments related to exchange variance risk, which were recorded as fair value option as of March 31, 2026 and December 31, 2025 are presented below.

Parent company

Fair Value Option	Reference value		Description	Fair value
	03/31/2026	12/31/2025		03/31/2026	12/31/2025
Debt (Hedged)	250,000	250,000	Foreign Currency	(238,394)	(248,591)
			Long position
			Foreign currency	238,394	248,591
Forex swap (Hedge instrument)	250,000	250,000	Short position
			CDI interest rate	(260,176)	(251,288)
			Net swap position	(21,782)	(2,697)
			Net debt position + swap	(260,176)	(251,288)

Consolidated

Fair Value Option	Reference value		Description	Fair value
	03/31/2026	12/31/2025		03/31/2026	12/31/2025
Debt (Hedged)	5,327,886	5,810,886	Foreign currency	(5,034,202)	(5,876,829)
			Long position
			Foreign currency	5,034,202	5,876,829
Forex swap (Hedge instrument)	5,327,886	5,810,886	Short position
			CDI interest rate	(5,507,548)	(6,073,827)
			Net swap position	(473,346)	(196,998)
			Net debt position + swap	(5,507,548)	(6,073,827)

The Company classifies certain hedge instruments related to loan interest rate risk as fair value hedge, as shown below:

Parent company

Derivatives	Reference value		Description	Fair value
	03/31/2026	12/31/2025		03/31/2026	12/31/2025
Debt (Hedged)	3,659,476	3,716,830	Fixed and floating rate	(3,928,488)	(4,193,350)
Interest swaps
(Hedge instrument)			Long position
			Fixed and floating rate	3,927,813	4,192,943
	3,659,476	3,716,830	Short position
			CDI interest rate	(4,681,943)	(4,597,854)
			Net swap position	(754,130)	(404,911)
			Net debt position + swap	(4,682,618)	(4,598,261)

Consolidated

Derivatives	Reference value		Description	Fair value
	03/31/2026	12/31/2025		03/31/2026	12/31/2025
Debt (Hedged)	16,801,182	14,146,209	Fixed and floating rate	(16,494,186)	(14,584,014)
			Long position
			Fixed and floating rate	17,387,326	15,488,732
Interest swaps	16,801,182	14,146,209	Short position
(Hedge instrument)			CDI interest rate	(18,893,630)	(15,745,502)
			Net swap position	(1,506,304)	(256,770)
			Net debt position + swap	(18,000,490)	(14,840,784)

The subsidiaries calculated the Fair Value of the derivatives as of March 31, 2026 based on the market price quotes for similar contracts. Their variance is directly associated with the variance of the debt balances listed in the note 19 and 20 and the positive performance of the hedge mechanisms used, as described above. The Company and its subsidiaries do not intend to settle these contracts before maturity. They also have different expectations for the results presented as fair value. To ensure perfect management, daily monitoring is conducted in order to keep risk to a minimum and obtain better financial results.

The mark-to-market (MtM) of the Company and its subsidiaries' operations was calculated by an accepted method generally used by the market. The method basically consists of calculating the future value of the operations agreed in each contract, discounting the present value at market rates. The data used in these calculations was obtained from reliable sources. The market rates, such as the fixed rate and forex coupon, were obtained directly from the B3 site (Market Rates for swaps). The Ptax exchange rate was obtained from the Central Bank's site.

31.4 Sensitivity analysis

Pursuant to CPC 40, the Company and its subsidiaries conducted sensitivity analyses on the main risks to which the financial instruments and derivatives are exposed, as shown:

a) Exchange variance

If the exchange exposure as of March 31, 2026 were maintained, and the effects on the future financial information simulated by type of financial instrument and for three different scenarios, the following results would be obtained (restated as for the quarterly reporting date):

Parent Company:

Operation	Exposure	Risk	Scenario I (Probable)(1)	Scenario II (Deterioration of 25%)	Scenario III (Deterioration of 50%)
Foreign-currency debt	(250,000)		(250,089)	(309,709)	(369,330)
Change in debt			(89)	(59,709)	(119,330)
Forex swap
Long position
Derivative financial instruments	238,394	Exchange rate increase	238,483	298,103	357,724
Change			89	59,709	119,330
Short position
Derivative financial instruments - CDI Interest Rate	(260,176)		(260,176)	(260,176)	(260,176)
Subtotal	(21,782)		(21,693)	37,927	97,548
Net total	(271,782)		(271,782)	(271,782)	(271,782)

Consolidated

Operation	Exposure	Risk	Scenario I (Probable)(1)	Scenario II (Deterioration of 25%)	Scenario III (Deterioration of 50%)
Foreign Currency Debt	(5,327,886)		(5,112,332)	(6,316,994)	(7,521,655)
Change in Debt			215,554	(989,108)	(2,193,769)
Forex Swap
Long Position
Derivative Financial Instruments	5,034,202	Exchange rate increase	4,818,648	6,023,310	7,227,971
Change			(215,554)	989,108	2,193,769
Short Position
Derivative Financial Instruments - CDI Interest Rate	(5,507,548)		(5,507,548)	(5,507,548)	(5,507,548)
Subtotal	(473,346)		(688,900)	515,762	1,720,423
Net Total	(5,801,232)		(5,801,232)	(5,801,232)	(5,801,232)

(1) The probable scenario is calculated based on the expected future exchange rate in the last Focus bulletin disclosed for the calculation date. The deterioration scenarios of 25% and 50% are calculated based on the probable scenario curve. In these scenarios the forex curve is impacted, the CDI curve holds steady and the exchange coupon curve is recalculated. This is done to ensure the parity between the spot, CDI, currency coupon and future exchange rate is always valid.

The derivatives in the "Probable Scenario" calculated based on the net analysis of the above operations until the maturity thereof, adjusted to present value by the fixed rate in Brazilian Reais as of March 31, 2026, that shows how the adverse exchange variance in existing debts was mitigated. The greater the deterioration of the exchange rate (risk variable considered), the greater the positive results of the swaps. With the scenarios of the Real exchange rate depreciating by 25% and 50%, the present value of the debt plus derivatives would be R$ 271,782 at the parent company and R$ 5,801,232 consolidated, in both cases.

b) Interest rate variance

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If the interest-rate exposure as of March 31, 2026 were maintained, and the effects on the future financial information simulated by type of financial instrument and for three different scenarios, the following results would be obtained (restated as for the quarterly reporting date):

Operation	Exposure	Risk	Scenario I (Probable) (1)	Scenario II (Deterioration of 25%)	Scenario III (Deterioration of 50%)
Local currency debt - Interest Rate	(3,659,476)		(3,659,476)	(3,659,476)	(3,659,476)
Interest swaps
Long position
Derivative financial instruments - Fixed and Floating	3,927,813	Increase in CDI	3,927,813	3,927,813	3,927,813
Short position
Derivative financial instruments - CDI	(4,681,943)		(4,681,943)	(5,563,992)	(6,634,781)
Change			-	(882,049)	(1,952,838)
Subtotal	(754,130)		(754,130)	(1,636,179)	(2,706,968)
Net total	(4,413,606)		(4,413,606)	(5,295,655)	(6,366,444)

Operation	Exposure	Risk	Scenario I (Probable) (1)	Scenario II (Deterioration of 25%)	Scenario III (Deterioration of 50%)
Local currency debt - Interest Rate	(16,801,182)		(16,801,182)	(16,801,182)	(16,801,182)
Interest swaps
Long position
Derivative financial instruments - Fixed and Floating	17,387,326	Increase in CDI	17,387,326	17,387,326	17,387,326
Short position
Derivative financial instruments - CDI	(18,893,630)		(18,893,630)	(22,496,644)	(27,007,453)
Change			-	(3,603,014)	(8,113,823)
Subtotal	(1,506,304)		(1,506,304)	(5,109,318)	(9,620,127)
Net total	(18,307,486)		(18,307,486)	(21,910,500)	(26,421,309)

(1) The probable scenario is calculated based on the expected future CDI rate in the last Focus bulletin disclosed for the calculation date. The deterioration scenarios of 25% and 50% are calculated based on the probable scenario curve. In these scenarios the IPCA curve holds steady and the CDI curve is recalculated.

Assuming that the exposure of financial instruments indexed to interest rates as of March 31, 2026 is maintained and the respective accumulated annual indexes are those presented in the table below, and f the indexes vary in accordance with the three scenarios defined, the net financial result would be affected by:

Instruments	Exposure (R$ thousand)	Risk	Scenario I (Probable) (1)	Scenario II (Deterioration of 25%)	Scenario III (Deterioration of 50%)
Receivable financial instruments:
Money market and secured funds	11,179,410	Increase in CDI	1,173,838	1,467,298	1,760,757
Payable financial instruments:
Swap	(5,507,548)	Increase in CDI	(578,293)	(722,866)	(867,440)
	(15,445,851)	Increase in CDI	(1,621,814)	(2,027,268)	(2,432,721)
Loans, financing and debentures	(840,710)	Increase in TJLP	(76,757)	(95,946)	(115,136)
	(22,282,868)	Rise in IPCA	(387,722)	(484,653)	(581,583)
	(112,953)	Rise in INPC	(1,717)	(2,146)	(2,576)
	(1,067,962)	High TR	(5,019)	(6,274)	(7,529)
Subtotal (2)	(45,257,892)		(2,671,322)	(3,339,153)	(4,006,985)
Total - losses (2)	(34,078,482)		(1,497,484)	(1,871,855)	(2,246,228)

(1) Considers the CDI and SELIC rate at March 31, 2027 (10.50% per annum), estimate quotes presented by the recent BACEN survey, dated March 31, 2026, TR rate of 0.47% per annum, TJLP of 9.13% per annum, INPC of 1.52% per annum and IPCA of 1.74% per annum.
(2) Does not include fixed-interest transactions worth R$ 1,345,342

32. Post-employment benefits

32.1 A breakdown follows of the actuarial deficit balances of the retirement and pension plans, retirement bonus and health care plan

Company	Retirement Bonus / Premium	Health care plans	Pension plans				Total
			Actuarial liabilities - DB Plan	Debt contracts / Past Service		Total
				DB Plan	DC Plan	Pension plans	03/31/2026	12/31/2025
ESA - Parent company	7,521	6,790	-	-	-	-	14,311	13,900
EMR	8,554	5,356	-	-	-	-	13,910	13,486
ESE	5,072	36,594	24,514	13,786	21,473	59,773	101,439	107,740
EPB	-	7,247	1,440	65,450	20,581	87,471	94,718	94,429
EMT	-	12,812	-	1,350	9,885	11,235	24,047	23,848
EMS	-	8,758	-	-	-	-	8,758	8,485
ESS	-	20,816	-	2,568	9,074	11,642	32,458	32,277
ETO	496	13,547	1	1,716	2,329	4,046	18,089	17,734
ERO (1)	-	6	21,038	-	-	21,038	21,044	21,159
EAC	-	14	-	-	-	-	14	13
EAM	-	1	-	-	-	-	1	1
ESOL	1,291	687	-	-	-	-	1,978	1,919
ALSOL	-	-	-	-	-	-	-	-
ESOLC	-	-	-	-	-	-	-	-
MULTI	-	370	-	-	-	-	370	359
LMTE	-	3	-	-	-	-	3	3
LTTE	-	2	-	-	-	-	2	2
LXTE	-	8	-	-	-	-	8	7
ETT I	-	12	-	-	-	-	12	12
ECOM	3	8	-	-	-	-	11	10
VOLTZ	-	-	-	-	-	-	-	3
EPLAN	2	-	-	-	-	-	2	2
SOBR	16	16	-	-	-	-	32	30
ANG EMPREE	-	1	-	-	-	-	1	-
Consolidated Total	22,955	113,048	46,993	84,870	63,342	195,205	331,208	335,419
Current	2,451	14,223	2,962	8,343	14,236	25,541	42,215	49,539
Noncurrent	20,504	98,825	44,031	76,527	49,106	169,664	288,993	285,880
Post-employment benefits							182,996	176,961
Loans, financing and debt charges							148,212	158,458

(1) It refers to an extraordinary, optional contribution for funding past service time, covered equally by the sponsor and the participants of the Energisa Rondônia DC Plan who met the criteria of being enrolled in the DC Plan until September 30, 2017, and who had joined the sponsor's employee roster before September 2011.

32.2 Inergus DB Plan – actuarial appraisal

In recent years, the obligations under the DB-1 Inergus plan had been increasing since the last migration in 2018, and the participants' debt under the plan reached significant levels, making it necessary for Instituto Inergus, the plan manager, to operate through cash flow guaranteed by advances from the sponsor. In light of this context, Instituto Inergus submitted and obtained approval from the sponsor for the release of funds intended to enter into agreements with participants and beneficiaries, thereby beginning negotiations aimed at closing the legal proceedings and terminating the participants' relationship with the Institute (DB-1 Plan).

The negotiations involved 111 participants and beneficiaries, of which 90 proposals were accepted and 21 were

rejected. The agreements entered into totaled R$ 62,021, including legal fees. Instituto Inergus is awaiting the release of court orders to withdraw the judicial deposits related to the proceedings settled through the agreements, and the amounts withdrawn will be allocated to the sponsor.

Considering the negotiations carried out, with the termination of the participants' and beneficiaries' relationship and, consequently, the reduction of future obligations reflected in the mathematical provisions, the result of the actuarial appraisal measurement under CPC 33 (R1) / IAS 19 generated for the sponsor the amount of R$ 32,756 recognized as plan curtailment as of December 31, 2025. The sponsor was also reimbursed R$ 9,585 through March 31, 2026.

32.3 Retirement and pension supplementation plan

The Company and its subsidiaries sponsor defined-contribution and variable-contribution retirement plans and a plan exclusively for risk benefits posed defined- and variable- contribution plan.

The defined-benefit, variable contribution and risk plans undergo an actuarial assessment at the end of each financial year, in order to ascertain whether the contribution rates are sufficient to establish the reserves required to meet the current and future payment commitments.

In the period ended March 31, 2026 the expense on sponsoring these plans was R$ 1,450 (R$ 1,377 as of March 31, 2025) at the parent company and R$ 13,778 consolidated (R$ 14,778 as of March 31, 2025) in post-employment benefits in the consolidated statement of profit or loss for the period.

32.4 Retirement bonus/premium and reward for length of service

The Company and its subsidiaries EMR, ESOL, ETO, ESE, ECOM, EPLAN and Parque Eólico Sobradinho, are parties to a collective agreement under which employees are entitled to a retirement bonus/premium paid upon application for retirement at the National Social Security Institute (INSS).

At the Company and other subsidiaries, the bonus ranges from 1.5 to 15 times the employee's salary, depending on seniority (at least 6 years, but limited to 25 years) upon applying for retirement.

At the indirect subsidiary ETO the bonus ranges from 2.0 to 5.5 times the employee's salary, depending on seniority (at least 5 years, but limited to 35 years) upon applying for the retirement benefit. Employees admitted after May 01, 1997 are not entitled to this bonus.

The participants of the CD Plan who at the requested retirement date present amounts deposited by the sponsor in their individual counts in excess of 15 base salaries, are not entitled to the premium.

In the period ended March 31, 2026 the expense on maintaining this plan amounted to R$ 4 (R$ 203 as of March 31, 2025) at the parent company and R$ 148 (R$ 938 as of March 31, 2025) in post-employment benefits in the consolidated statement of profit or loss.

32.5 Health care plan

The Company and its subsidiaries maintain a post-employment medical hospital assistance plan for active employees, retirees, pensioners and their legal dependents, in the forms pre-and post payment.

Post payment: the company's monthly contributions to active participants comprise medical expenses plus the administration fee, characterized as the Post-payment plan. For inactive participants, netting processes are conducted which evaluate the revenue collected (monthly fees and co-pays) less usage costs. The cost of active and inactive participants are adjusted annually for drought in variance in medical and hospital costs, sales costs and other expenses incurred on the operation.

Prepayment: the Company's monthly contributions are for the average premiums and by age range. calculated by the operator/insurance company, multiplied by the number of lives. These premiums are adjusted annually for the claims ratio, the variance in medical and hospital costs, sales costs and other expenses incurred on the operation,

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in order to maintain the technical and actuarial equilibrium. Contributions collected from retired employees, pensioners and former employees are restated the same way.

In the period ended March 31, 2026 the expenses on this benefit amounted to R$ 2,833 (R$ 2,412 as of March 31, 2025) at the parent company and R$ 43,765 (R$ 40,517 as of March 31, 2025) in the consolidated statement. Includes R$ 21 (R$ 34 as of March 31, 2025) for the actuarial calculation of the post-employment benefit plan at the parent company and R$ 391 (R$ 929 as of March 31, 2024) in the consolidated statement.

33. Insurance coverage

The insurance policy of the Company and its subsidiaries is based on taking out suitable insurance coverage deemed sufficient to cover losses caused by any impairment to its assets, and indemnification resulting from civil liability or any involuntary material and/or personal damages inflicted on third parties resulting from its operations, considering the nature of its activity. The risk assumptions adopted, given their nature, are not part of an independent audit. The main items covered are:

Insurance lines	Date of maturity	Amount insured (R$ thousand)	Total Premium - Parent Company
			03/31/2026	12/31/2025
Operating Risks	06/22/2026	90,000	196	194
Auto - Fleet	10/23/2026	Up to R$ 1,000 / vehicle	28	28
Collective Life Insurance and Personal Accidents	01/31/2028	276,131	751	738
Civil Liability Directors and Officers (D&O)	08/05/2026	100,000	2	2
Total			977	962
Insurance lines	Date of maturity	Insurance Coverage	Total Premium - Consolidated
---	---	---	---	---
			03/31/2026	12/31/2025
Data protection insurance Cyber responsibility	08/25/2026	50,000	1,161	1,161
Environmental Civil Liability	10/20/2026	20,000	743	743
Operating risks	09/15/2027	200,000	18,627	18,508
General civil liability	02/10/2028	10,000	86	86
Civil liability for works	10/11/2027	90,000	7,080	7,080
Auto - Fleet	12/31/2026	20,000	359	479
General civil liability to 2nd Risk	10/23/2026	Up to R$ 1,000 / vehicle	1,571	1,570
Aeronautical - civil liability (RETA)	06/23/2027	10,000	206	206
Collective life insurance and personal accidents	01/31/2028	276,131	4,480	4,392
National transportation	07/30/2026	Up to 5,000/ trip	147	147
Civil liability of directors and officers (D&O)	08/05/2026	100,000	216	216
Explorer or transportation liability - R.E.T.A (Drones)	06/30/2026	1,157/drone	87	85
Comprehensive Business Insurance	02/26/2027	20,375	78	28
Engineering risks and civil liability works	01/08/2027	188,818	1,418	1,710
Total			36,259	36,411

34. Consolidated commitments

The subsidiaries have the following commitments under long-term contracts:

34.1 Sale of electricity

	Energy sale contract - Reais thousand
	Term	2026	2027	2028	2029	2029 onwards
ECOM	2026 to 2039	1,111,216	683,939	496,067	342,268	1,363,431

34.2 Electricity purchases

The amounts referring to energy acquisition contracts lasting between 8 and 30 years represent the volume contracted at the average current price in the period ended December 31, 2026, which have been ratified by ANEEL.

	Energy purchase contract - Basis thousand (1)
	Term	2026	2027	2028	2029	2029 onwards
EMR	2026 to 2054	375,431	476,804	474,378	470,367	4,597,171
EPB	2026 to 2054	737,886	935,624	920,214	910,582	11,719,977
ESE	2026 to 2054	462,304	597,338	590,968	588,181	7,061,756
EMT	2026 to 2054	1,886,067	2,350,539	2,220,089	2,144,969	20,410,953
ETO	2026 to 2054	437,003	550,964	546,023	542,652	6,636,687
EMS	2026 to 2054	955,855	1,186,512	1,134,541	1,136,290	13,250,949
ESS	2026 to 2054	646,779	822,775	817,756	812,751	7,213,487
ECOM	2026 to 2054	761,309	931,115	896,677	892,477	14,133,390
ERO	2026 to 2054	245,784	306,792	297,060	294,725	4,598,161
EAC	2026 to 2054	1,144,404	701,685	466,829	328,493	1,351,665
		7,652,822	8,860,148	8,364,535	8,121,487	90,974,196

(1) This does not include the Proinfa and Itaipu quotas.

34.3 Rental of land to build photovoltaic power plants

	Rental of land to build power plants
	Term	2026	2027	2028	2029	2029 onwards
ALSOL	2026 to 2051	4,167	4,167	4,167	4,167	67,386

Denotes amounts of lease contracts for areas to implement the Photovoltaic Plants.

34.4 Contracts for natural gas supply - non-thermal segment

To supply piped gas to customers connected to the distribution network, the subsidiary ESGÁS holds Firm Inflexible Natural Gas Purchase and Sale Agreements. Given the possibility of the volume falling in the gas supply agreements due to the migration of customers to the free market, changes were made in November 2024 to the Contracted Daily Quantities (CDQ) of all agreements. The reduction was applied proportionally to each agreement, as shown in the updated tables below:

	January to April	May to December	2027	2028	2029-31	2032	2033	2034	2035
	2026
QDCF (m³/day)	189,981	199,196	199,196	199,196	199,196	184,196	59,069	42,173	16,896
QDCP (m³/day)	-	-	-	-	-	-	-	-	-
Total	189,981	199,196	199,196	199,196	199,196	184,196	59,069	42,173	16,896

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35. Additional information to the cash flows

As of March 31, 2026 and December 31, 2025 the equity changes that did not affect the Company's consolidated cash flows relating to the business combination are as follows:

	03/31/2026	12/31/2025
Other noncash transactions
Concession Financial Asset - Segregation of Assets	771,773	2,654,222
Concession financial asset - Fair value compensatable asset	258,813	630,301
Contract asset compensation - electricity transmission	250,518	795,346
Construction revenue, margins and efficiency gains/losses on implementing infrastructure	13,521	98,419
Operating activities
Suppliers on credit - DisCos and other companies	565,218	402,498
Suppliers on credit - TransCos	8,991	24,929
Incorporation of grids	44,170	159,417
Leasing	7,706	37,159
Investment activities
Investments in PP&E, intangible assets and contractual asset - Infrastructure under construction -	(565,218)	(402,498)
DisCos and other companies
Applications to electricity transmission lines	(8,991)	(24,929)
Incorporation of grids	(44,170)	(159,417)
Intangible assets	(7,706)	(37,159)
Provision for completion of works		-
Business combination
Money market and secured funds		-
Clients, consumers and concession operators	-	500
Inventory	-	217
Other debtors	-	282
Recoverable taxes	-	833
Other current assets	-	-
Other noncurrent assets	-	-
Investments	-	-
Property, plant and equipment	-	27,723
Intangible assets - concession agreement	-	-
Intangible assets - software and other	-	-
Trade payables	-	-
Operating liabilities	-	743
Loans, financing and debt charges	-	3,018
Labor obligations	-	-
Taxes and social contributions	-	4,728
Deferred income tax and social contribution	-	-
Other liabilities	-	-

36. Subsequent events

36.1 Rate tiers

ANEEL decided to trigger the Green Flag Tier for electricity DisCos for April and the yellow flag tier for May 2026, after analyzing the hydrological situation in Brazil.

36.2 Rate Adjustments

(4) By way of Ratifying Resolution 3.581 issued April 22, 2026, ANEEL approved the subsidiary EMT's rate adjustment effective from April 23, 2026, with an average rate increase to be felt by consumers of 6.86%.

(5) By way of Ratifying Resolution 3.582 issued April 22, 2026, ANEEL approved the subsidiary EMS' rate adjustment effective from April 23, 2026, with an average rate increase to be felt by consumers of 12.11%.

(6) By way of Ratifying Resolution 3.575 issued April 22, 2026, ANEEL approved the subsidiary ESE's rate adjustment effective from April 23, 2026, with an average rate increase to be felt by consumers of 6.86%.

36.3 Signing of memorandum of understanding for capital subscription and contribution of Denerge shares by Itaú Unibanco.

On April 22, 2026, the Company published a notice regarding the performance of a non-binding memorandum of understanding ("MoU") with Itaú Unibanco S.A. ("Itaú"), governing the principal terms and general conditions for the subscription and capital contribution by Itaú of all preferred shares issued by Denerge in an estimated amount of R$ 1,400,000 (one billion four hundred million reais). Following the acquisition, Itaú will hold a direct NCI in Denerge's share capital and, indirectly, in its subsidiaries, including Rede Energia, EMS, ESS and EMT. The Transaction is subject to the performance (or waiver, as the case may be) of certain precedent conditions provided for in the MoU, including the approval of the Brazilian Anti-trust Authority ("CADE").

36.4 Payment of dividends – subsidiaries

On May 11, 2026, Management of the subsidiaries approved dividend distributions based on net income for the period ended March 31, 2026 for Energisa Acre ("EAC") and Nova Denerge and based on the retained earnings reserve for Denerge, as shown below:

Subsidiaries	Dividend amount (R$)	Dividend value per share (R$)	Case type	Date of Payment
Energisa Acre	23,732,071.79	0.018193504	Common	as from May 12, 2026
Denerge	55,000,000.00	70.826180962	Common	as from May 12, 2026
Nova Denerge	117,778,598.38	0.046009668	Common	as from May 12, 2026

36.5 Execution of concession extension amendments

On May 08, 2026, 30-year Concession Extension Amendments were completed for the following Company DisCos, without any charges, in accordance with Law No. 9.074 of July 07, 1995:

Energisa Sergipe – Distribuidora de Energia S.A. (ESE)
CNPJ/MF 13.017.462/0001-60
Term: from December 23, 2027 to December 23, 2057
The concession serves approximately 900,000 customers in 63 municipalities, covering an area of 17,000 km².

Energisa Paraíba – Distribuidora de Energia S.A. (EPB)
CNPJ/MF 09.095.183/0001-40
Term: from March 21, 2031 to March 21, 2061
The concession serves approximately 2 million customers in 222 municipalities, covering an area of 54,000 km².

Energisa Mato Grosso do Sul – Distribuidora de Energia S.A. (EMS)
CNPJ/MF 15.413.826/0001-50
Term: from December 04, 2027 to December 04, 2057
The concession serves approximately 1.2 million customers in 74 municipalities, covering an area of 328,000 km².

Energisa Mato Grosso – Distribuidora de Energia S.A. (EMT)
CNPJ/MF 03.467.321/0001-99
Term: from December 11, 2027 to December 11, 2057
The concession serves approximately 1.7 million customers in 142 municipalities, covering an area of 903,000 km².

All concession operators are demonstrating adequate service quality indicators and financial strength consistent with the criteria required by the Concession Authority.

Representation by the Officers of Energisa S.A. ("Company) on the Financial Statements for the period January 01 to March 31, 2026

The Company's undersigned officers represent that pursuant to article 27 (V and VI) of CVM Resolution 80, of March 29, 2022, that at a meeting held today they have revised, discussed and accepted the Company's financial statements, subject to the specific limits of their powers, and have approved the document.

Cataguases, May 11, 2026.

Ricardo Perez Botelho
CEO

Mauricio Perez Botelho
CFO and Investor Relations Officer

Fernando Cezar Maia
Regulatory Affairs and Strategy Officer

José Marcos Chaves de Melo
Logistics and Supplies Officer

Daniele Araújo Salomão Castelo
Personnel Management Officer

Rodolfo da Paixão Lima
Accounting, Tax and Asset Management Officer
Accountant - CRC RJ 107.310/O-0 "S" MG

ENERGISA GROUP
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Representation by the Officers of Energisa S.A. ("Company") on the Independent Auditors' Report

The Company's undersigned officers represent that pursuant to article 27 (V and VI) of CVM Resolution 80, of March 29, 2022, that at a meeting held today they have revised, discussed and accepted the opinions expressed in the independent auditors' opinion, subject to the specific limits of their powers, and have approved the document.

Cataguases, May 11, 2026

Ricardo Perez Botelho
CEO

Mauricio Perez Botelho
CFO and Investor Relations Officer

Fernando Cezar Maia
Regulatory Affairs and Strategy Officer

José Marcos Chaves de Melo
Logistics and Supplies Officer

Daniele Araújo Salomão Castelo
Personnel Management Officer

Rodolfo da Paixão Lima
Accounting, Tax and Asset Management Officer
Accountant - CRC RJ 107.310/O-0 "S" MG

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147

Board of Directors

(Election at 2025 A/EGM)

Omar Carneiro da Cunha Sobrinho
Chair

Ricardo Perez Botelho
Vice Chairman

Jose Antonio de Almeida Filippo
Independent Board Member

Rogério Sekeff Zampronha
Independent Board Member

Luciana Oliveira Cezar Coelho
Independent Board Member

Armando de Azevedo Henriques
Independent Board Member

Luiz Eduardo Froés do Amaral Osorio
Independent Board Member

ENERGISA GROUP
148

EARNINGS RELEASE
1Q26
ENERGISA GROUP
GRUPO energisa

Executive Board

ENERGISA GROUP
149

(Convenience Translation into English from the Original Previously Issued in Portuguese)

Energisa S.A.

Report on Review of Interim Financial Information for the Three-month Period Ended March 31, 2026

Deloitte Touche Tohmatsu Auditores Independentes Ltda.

Deloitte.

Deloitte Touche Tohmatsu
Rua São Bento, 18 -
15° e 16° andares
20090-010 - Rio de Janeiro - RJ
Brazil
Tel.: +55 (21) 3981-0500
Fax: +55 (21) 3981-0600
www.deloitte.com.br

(Convenience Translation into English from the Original Previously Issued in Portuguese)

REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION

To the Shareholders and Management of
Energisa S.A.
Cataguases - MG

Introduction

We have reviewed the accompanying individual and consolidated interim financial information of Energisa S.A. ("Company"), included in the Interim Financial Information Form (ITR) for the quarter ended March 31, 2026, which comprises the balance sheet as at March 31, 2026 and the related statements of profit and loss, of comprehensive income, of changes in equity and of cash flows for the three-month period then ended, including the explanatory notes.

Management is responsible for the preparation of this individual and consolidated interim financial information in accordance with Brazilian standard NBC TG 21 and international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board - IASB, as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM), applicable to the preparation of Interim Financial Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Review of Interim Financial Information (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the individual and consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the individual and consolidated interim financial information included in the ITR referred to above was not prepared, in all material respects, in accordance with Brazilian standard NBC TG 21 and international standard IAS 34, applicable to the preparation of ITR, and presented in accordance with the standards issued by the CVM.

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Other matters

Statements of value added

The interim financial information referred to above includes the individual and consolidated statements of value added (DVA) for the three-month period ended March 31, 2026, prepared under the responsibility of the Company's Management and disclosed as supplemental information for purposes of international standard IAS 34. These statements were subject to review procedures performed together with the review of the ITR to reach a conclusion on whether they are reconciled with the interim financial information and accounting records, as applicable, and whether their form and content are in accordance with the criteria set out in Brazilian standard NBC TG 09 - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that these statements of value added were not prepared, in all material respects, in accordance with such Brazilian standard and consistently with the accompanying individual and consolidated interim financial information taken as a whole.

Convenience translation

The accompanying individual and consolidated interim financial information has been translated into English for the convenience of readers outside Brazil.

Rio de Janeiro, May 11, 2026

Deloitte Touche Tohmatsu
Auditores Independentes Ltda.

Antonio Carlos Brandão de Sousa
Engagement Partner

62000

© 2026. For information, contact Deloitte Global.