Centrais Electricas Brasileiras S A American Depositary Shares (Each representing one Common Share)

Good morning, ladies and gentlemen.

Welcome to AXIA Energia's third quarter 2025 earnings call. Joining us today are the following members of our executive team. Mr. Ivan de Souza Monteiro, CEO of AXIA Energia. Mr. Eduardo Rayama, Executive VP of Finance and Investors Relations. Mr. Antonio Varejão de Godoy, Executive VP of Operations and Security. Ms. Camila Araujo, VP of Governance, Risks, Compliance and Sustainability. Mr. Edu Wolf, VP of Strategy and Business Development. Mr. Italo Freitas, Vice President of Commercialization and Energy Solutions. Mr. Juliano Dantos, VP of Innovation, P&D, or R&D, Jadison IT, Mr. Marcelo de Siqueira Freitas, Executive VP of Legal Affairs, Mr. Renato Carrera, VP of People and Services, Mr. Robinson Piers de Campos, VP of Expansion Engineering, and Mr. Rodrigo Limp, Executive VP of Regulation, Institutional and Markets. We would like to inform you that this call is being recorded and it will be made available on the company's IR website, along with the presentation being shared today, both in Portuguese and English. For those who require simultaneous translation, click on the globe icon labeled Interpretation at the bottom center of the screen. Then choose your preferred language. If you're listening in English, you can mute the audio in Portuguese by clicking on Mute Original Audio. For the Q&A session, if you'd like to ask a question, please use the Q&A icon at the bottom of your screen, stating your name, company, and then ask your question. Your name will be announced so that you can ask your question live. At this point in time, a request to unmute your mic will appear on your screen. If you prefer not to open your mic, please let us know in the Q&A field alongside your questions so that the operator can read it out loud. Before we proceed, we would like to clarify that any statements that may be made during this conference call as to the company's business outlook projections, operation and financial goals are based on beliefs and assumptions of Axia Energia's executive management as well as information currently available. Forward-looking statements are not guarantees of performance as they involve risks and uncertainties and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions and other operational factors may affect the results expressed in such forward-looking statements. I'll now turn the call over to Mr. Ivan Monteiro, CEO of Axia Energia. Please go ahead, Mr. Monteiro. Good morning, everyone. Welcome to our earnings call for the third quarter. Ever since the beginning, we aimed at building an efficient company, transparent company with predictable results, aimed at serving its customers. The highlights for the quarter are an indication of this goal. Record compensation for shareholders, additional 4.3 billion reals, adding up to those 5 billion we had announced previously. This was only made possible through the de-risking process ever since the capitalization process. We have greater generation margin along the lines of building a company focused on customers, teams in place with robust processes in place that will allow us both financially and commercially capture the benefits of this higher margin. continuous management of our portfolio, and we are divesting in EMI and Electro-Nuclear. After the Cambiota thermal power plant, and again in the gas thermal plants, adding up to the sale of our stake in Santa Cruz Electro-Nuclear, is an indication of divesting our presence in nuclear power plants. That started out with an agreement with the government, and we were not obligated to keep on investing in ANGRA III. The acquisition of Tijuá adds up to several acid disentanglement operations we've been putting in place in the past two years. We are proud of these growth in investments, record highs between 2.5 and 3 billion rails. We are reaching a record, reaching 10 billion this year, focused on operational efficiency and an active participation of auctions. Just like we've seen in the last or the latest auction, we were awarded four lots. I would like to thank you very much for attending, and I'll turn it over to our CFO. Good morning. On to slide 7, please. Let me point out the financial highlights. First, with the revenue, there was a decrease, both regulatory as is the capital. But three highlights. Number one, in transmission, there was an increase in revenue. After the tariff review of 24-25, there was a major impact. We no longer have that as of this quarter. But in generation, just like Ivan mentioned, this has also impacted revenue in generation, as well as that one-off effect by extending the Tokurui contracts last year. As to the EBITDA impact, these impacts are smaller. On the regulatory side, there was a small or a slight decrease of our EBITDA. That was the divestment of the thermal components. They were offset by our PMSO reduction, and also because of the increase of the revenue from transmission onto slide 8, net income. Now, let's address that from the company point of view. The reported net income was a lot smaller than Q3 of last year, driven by the provision we had for the nuclear contract. And in the previous year, given the tariffs review, that posted a positive impact in transmission revenue. But when we look The numbers adjusted by these effects, we would have had a 68% decrease due to the effect of the sale of other assets that would impact the total number. On to slide 10, energy trading. This is our portfolio as is today. We are operating in every region. This is the available energy and energy that has been traded in each of these markets, either through quotas or through the captive market, through ACL. This will impact the energy we have available for the free market. onto slide 11.

That's the energy balance.