Earnings release
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2Q26 AXIA ENERGIA Earnings Release
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TABLE OF CONTENTS 1. AXIA ENERGIA RELEASES SECOND QUARTER 2026 RESULTS ............................................... 4 1.1. 2Q26 Main Events .............................................................................................................. 4 1.2. 2Q26 Financial Highlights ................................................................................................... 6 2. MAIN OPERATIONAL AND FINANCIAL INDICATORS ............................................................. 8 3. HIGHLIGHTS OF CONSOLIDATED RESULTS ............................................................................ 9 3.1. CONSOLIDATED RESULT | IFRS AND REGULATORY ............................................................ 9 3.2. ADJUSTED CONSOLIDATED RESULT | IFRS AND REGULATORY .......................................... 11 3.2.1. Adjusted Regulatory Income Statement ........................................................................ 11 3.2.2. Non-recurring Adjustments | Regulatory Income Statement ....................................... 12 3.2.3. Regulatory Result: Adjusted EBITDA .............................................................................. 12 4. ENERGY TRADING .................................................................................................................. 14 5. INVESTMENTS AND EXPANSION PROJECTS .......................................................................... 15 6. INDEBTEDNESS ....................................................................................................................... 18 7. COMPULSORY LOAN .............................................................................................................. 19 8. CASH FLOW ............................................................................................................................ 21 9. FINANCIAL PERFORMANCE ................................................................................................... 22 9.1. Operational and Financial Results ...................................................................................... 22 9.2. Generation Segment .......................................................................................................... 24 9.3. Transmission Segment ....................................................................................................... 28 9.4. Operating Costs and Expenses - IFRS ................................................................................. 30 9.5. Equity Holdings - IFRS ......................................................................................................... 34 9.6. Financial Result - IFRS ......................................................................................................... 35 9.7. Current and Deferred Taxes - IFRS ..................................................................................... 36 10. OPERATIONAL PERFORMANCE ............................................................................................. 37 10.1. Generation Segment .......................................................................................................... 37 10.2. Transmission Segment ....................................................................................................... 40 10.3. ESG ...................................................................................................................................... 40 11. APPENDIX ............................................................................................................................... 41 11.1. Appendix 1 - Generation and Transmission Revenue IFRS ................................................ 41 11.2. Appendix 2 - PMSO Breakdown ......................................................................................... 42 11.3. Appendix 3 - Financing and Loans Granted (Receivables) ................................................. 43 11.4. Appendix 4 - Periodic Review of the 2026 RAP for Tendered Concession Agreements .... 44 11.5. Appendix 5 - RAP Annual Adjustment, 2026/2027 Cycle ................................................... 46 11.6. Appendix 6 - RAP Annual Adjustment - Adjustment Portion (PA), 2026/2027 Cycle ....... 49 11.7. Appendix 7 - Transmission System Usage Tariff, 2026/2027 Cycle ................................... 51 11.8. Appendix 8 - Accounting Statements ................................................................................. 52 11.9. Appendix 9 - IFRS vs. Regulatory Reconciliation ................................................................ 57 3
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1. AXIA ENERGIA RELEASES SECOND QUARTER 2026 RESULTS 1.1. 2Q26 Main Events 2Q26 results: Reflected the positive impact of energy sales, stronger equity income, and lower provision levels. Of note, investments increased 53% YoY to R$ 3,117 million in 2Q26. These improvements reinforce Management’s continued focus on value creation, operational efficiency, and proactive contingency mitigation. Capital Allocation Methodology: The Board of Directors approved up to R$ 3.7 billion in capital available for allocation from 2Q26 results. Combined with the previously approved 1Q26 amount of up to R$ 4.0 billion, this brings the total amount available for allocation in 1H26 to up to R$ 7.7 billion, reinforcing the Company's commitment to financial discipline and value creation for shareholders while preserving its investment capacity. Migration to B3's Novo Mercado: In June 2026, we completed the migration to the Novo Mercado, as approved in April. This milestone represents a significant step toward simplifying the Company’s capital structure, increasing share liquidity, and continuously strengthening its corporate governance practices. As a result, the Company’s capital structure now consists exclusively of common shares (“ON”), traded under the ticker AXIA3, and Class C preferred shares (“PNC”), traded under the ticker AXIA7, which are fully convertible or redeemable through 2031. Redemption and conversion of PNC shares: Successful completion of the first-of-its-kind redemption and conversion of PNC shares, totaling R$ 30 million. The transaction enabled the Company to assess and refine the mechanism to be used in subsequent operations. Transmission Auction: We secured Lots 8, 9, and 10 in Transmission Auction No. 01/2026. Once commercial operations begin, these projects are expected to generate additional RAP of R$ 50.8 million, with investments of R$ 668 million, as set forth in the Auction Notice. Investments: R$ 3,117 million in 2Q26, up 53% YoY, while in 6M26 they went up by 47% YoY to R$ 4,472 million. Notably, investments in transmission expansion increased significantly, reaching R$ 636 million this quarter as compared to R$ 85 million in 2Q25. Investments in reinforcements and improvements totaled R$ 1,073 million in 2Q26. Still within the transmission segment, 288 large-scale projects are under implementation, representing an additional RAP of R$ 2.0 billion between 2026 and 2030 with a total estimated CAPEX of R$ 15.5 billion. Chart 1 - Investments (R$ mm) 4 2,043 3,117 3,037 4,472 1,108 1,073 1,704 1,76485 636 139 899 Transmission: reinforcements and improvements, small and large scale Transmission: auction Generation and Others 2Q25 2Q26 6M25 6M26 +53% +47%
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Portfolio management: Management delivered significant and consistent milestones, accelerating the Company's streamlining and de-risking efforts. Key transactions include: ▪ Completion of the sale of a 49% minority stake in transmission special-purpose entities to GEBBRAS Participações Ltda, generating proceeds of R$ 451.4 million for AXIA Energia ▪ Completion of the acquisition of all shares held by the other partners in Juno Participações e Investimentos S.A., which holds a 50.1% interest in Tijoá Energia, for R$ 256 million. Following the transaction’s closing, AXIA Energia now fully consolidates the Três Irmãos Hydroelectric Power Plant ▪ Completion of the sale to ISA Energia of the 49% interests held by AXIA Energia and AXIA Energia Nordeste in SPE IE Madeira, as well as AXIA Energia Nordeste’s acquisition of ISA Energia’s 51% interest in SPE IE Garanhuns. Following the closing of the transaction, AXIA Energia began fully consolidating IE Garanhuns and received a net payment of R$ 1.167 billion ▪ Notice of an Extraordinary General Meeting (EGM), to be held on August 28, 2026, to deliberate on the proposed merger of the subsidiaries Juno Participações e Investimentos S.A., Tijoá Participações e Investimentos S.A., Retiro Baixo Energética S.A., and SPE Nova Era Janapu Transmissora S.A. The proposed merger is intended to consolidate operational, administrative, and tax-related activities, capture synergies and operational efficiencies, reduce costs, simplify corporate and organizational structures, accelerate decision-making, and enhance competitiveness Financial management: net debt totaled R$ 45,461 million in 2Q26, down by R$ 585 million sequentially and up R$ 5,336 million YoY. The average debt maturity decreased by 2.7 months while the average cost went down to CDI - 0.02% p.a. in 2Q26 from CDI + 0.58% p.a. in 2Q25. Highlights include the maturity of R$ 2.2 billion in debentures in April and the raising of R$ 500 million in May 2026. In July, we also completed our 9th, 10th, and 11th issuances of simple debentures, totaling R$ 3.5 billion. Compulsory loan: the provision inventory was reduced by R$ 1.3 billion YoY and R$ 278 million sequentially, totaling R$ 10.8 billion in 2Q26, even after considering the monetary restatement for the period. In addition, agreements reached and favorable decisions led to a net reversal of R$ 98 million in the quarter. Adjusted Net Income, IFRS: reached R$ 1,608 million in 2Q26, broadly in line with 2Q25, as the improvement in EBITDA partially offset the weaker financial result. In 6M26, adjusted IFRS net income totaled R$ 5,315 million, compared with R$ 1,389 million in 6M25, as the improvement in EBITDA more than offset the weaker financial result. 5
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1.2. 2Q26 Financial Highlights Contribution margin from generation, ACL + MCP: The unit margin for energy traded in the ACL and settled in the MCP was R$ 96/MWh in 2Q26, up from R$ 73/MWh in 2Q25, considering the resources available for allocation in both segments, resulting in a contribution margin of R$ 2,329 million in the period. The YoY improvement was explained by: ▪ Higher volume of energy available, reflecting the additional energy released for sale following the end of the quota regime and the higher GSF (99.2% in 2Q26 vs 95.6% in 2Q25) ▪ Higher short-term price (PLD) in the North, Northeast, and South submarkets, offsetting the drop in the Southeast/Central-West ▪ Higher contribution from hourly allocation of contracted volumes (modulação) Contribution margin from transmission: R$ 4,025 million in 2Q26, in line with the R$ 3,972 million recorded in 2Q25. The increase mainly reflected the improvement in the PA for the current tariff cycle, which shifted from a discount of R$ 382 million on revenue in 2Q25 to R$ 117 million in 2Q26. This variation was largely due to a negative component related to the postponement of the 2023 Periodic Tariff Review (RTP), pursuant to ANEEL Resolution No. 3,344/2024, which affected only the 2024/2025 tariff cycle and therefore had no corresponding impact in 2Q26. Still in 2Q26, a provision of R$ 40 million was recognized, related to regulatory restitution assets and liabilities, arising from pass-through items amounts. In 2Q26, this provision comprised: ▪ R$ 168 million related to the recognition of a provision for pass-through items collected as part of revenue during the quarter ▪ R$ 128 million related to the reversal of the provision recognized in 1Q26, corresponding to 1/4 of the amount approved for the current tariff cycle. The provision reflects pass-through items collected during the 2024/2025 tariff cycle and returned in the current 2025/2026 cycle This accounting practice, adopted since 1Q26 solely for regulatory reporting purposes, has no cash impact and is intended to smooth the effects on revenue of collecting and returning pass-through items across different tariff cycles, making the revenue trend more closely aligned with RAP receipts. Adjusted PMSO: ▪ IFRS: R$ 1,471 million in 2Q26, stable when compared to R$ 1,431 million recorded in 2Q25. ▪ Regulatory: R$ 1,475 million in 2Q26, stable when compared to R$ 1,448 million recorded in 2Q25. ◦ Excluding generation costs allocated to the segment's contribution margin on a managerial basis, PMSO was R$ 1,398 million in 2Q26, stable when compared to R$ 1,381 million in 2Q25. Adjusted Provision: ▪ IFRS: R$ 78 million provision in 2Q26, compared to a provision of R$ 177 million in 2Q25. ▪ Regulatory: R$ 35 million provision in 2Q26, compared to a R$ 98 million provision in 2Q25. Adjusted Regulatory Equity Income: totaled positive R$ 296 million in 2Q26, compared to negative R$ 205 million in 2Q25. This variation was mainly explained by: ▪ Recognition of Equatorial Maranhão’s 2Q25 results only in 3Q25 ▪ Eletronuclear's classification as asset held for sale in 3Q25 ▪ Resumption of ISA Energia’s contribution to equity income ▪ IE Madeira's classification as asset held for sale in 2Q26 Adjusted Regulatory EBITDA: EBITDA reached R$ 6,683 million in 2Q26, up 21.5% YoY, driven by: ▪ A 17.5% increase in contribution margin from generation ▪ A 64.0% drop in provisions 6
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Table 1 - Adjusted Regulatory EBITDA 2Q26 2Q25 ∆% 1Q26 ∆% Transmission - excluding non adjusted items 3,819 3,702 3.2 3,831 -0.3 Non-adjusted revenue, transmission: pass-through items and mismatches between RAP and revenue, compensated through the Adjustment Portion (PA) in the following cycle 246 270 -9.0 320 -23.3 Non-adjusted revenue, transmission: liability refund provision -40 0 n.m. -725 -94.4 Transmission Contribution Margin 4,025 3,972 1.3 3,426 17.5 Energy sold in regulated market (ACR) and through quota regime 1,324 1,342 -1.3 1,383 -4.2 Energy sold in free market (ACL) and liquidated in short- term market (MCP) 2,329 1,531 52.2 4,601 -49.4 Thermal power plants 0 236 -100.0 -2 -99.5 Generation Contribution Margin 3,653 3,109 17.5 5,982 -38.9 Other Revenues 143 105 36.1 133 6.9 Personnel, Materials, Services and Others (1) -1,398 -1,381 1.2 -1,371 2.0 Costs and expenses -1,398 -1,352 3.4 -1,371 2.0 Costs and expenses: thermal power plants 0 -29 n.m. 0 0.0 Results before Provisions and Equity Interests 6,422 5,804 10.7 8,171 -21.4 Operating Provisions -35 -98 -64.0 -22 61.2 Results before Equity Interests 6,387 5,706 11.9 8,149 -21.6 Equity holdings 296 -205 -244.6 452 -34.5 EBITDA 6,683 5,501 21.5 8,600 -22.3 (1) PMSO, excluding other non-manageable generation costs. The "RHR Hedge Cost" and "Other Operating Costs" lines, related to the generation segment costs, make up the "Other PMSO Costs" line under the accounting view. For a better understanding of the contribution margin by segment, from a management perspective, both lines are allocated in the composition of the contribution margin from generation. In 2Q26, the adjusted regulatory PMSO under the accounting view totaled R$ 1,475 million, composed of R$ 52 million in RHR hedge costs and R$ 24 million in other generation operating costs, both allocated in the margin from generation, and R$ 1,398 million in other manageable costs and expenses components for personnel, materials, services and other. At the same time, in 2Q26, the adjusted IFRS PMSO from an accounting perspective totaled R$ 1,471 million, comprised of R$ 52 million in RHR hedge costs and R$ 24 million in other generation operating costs, both allocated to the margin from generation, and R$ 1,395 million in other manageable costs and expenses components related to personnel, materials, services, and other. Adjusted Income and Social Contribution Taxes on Net Income, IFRS: reached R$ 94 million in 2Q26, compared to R$ 173 million in 2Q25. This variation was driven by lower deferred tax recognition, partially offset by a reduction in current tax expense, mainly reflecting a lower taxable income base at AXIA Energia Norte following the write-off of the provision for doubtful accounts related to the assignment of receivables from Amazonas Energia during the quarter. Adjusted Net Income, IFRS: reached R$ 1,608 million in 2Q26, broadly in line with 2Q25, as the improvement in EBITDA partially offset the weaker financial result. In 6M26 this line reached R$ 5,315 million, compared with R$ 1,389 million in 6M25, as the improvement in EBITDA more than offset the weaker financial result. 7
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2. MAIN OPERATIONAL AND FINANCIAL INDICATORS Table 2 - Operating highlights 2Q26 2Q25 ∆% 1Q26 ∆% 6M26 6M25 ∆% Generation and Trading Installed Generation Capacity (MW) 44,430 44,368 0.1 44,026 0.9 44,430 44,368 0.1 Assured Capacity (aMW) (1) 21,548 21,655 -0.5 21,444 0.5 21,548 21,655 -0.5 Net Generation (TWh) 41.1 38.7 6.2 44.4 -7.5 85 84 1.4 Energy Sold ACR (TWh) (2) 7.5 8.7 -13.9 8.0 -6.5 16 19 -17.1 Energy Sold ACL (TWh) (3) 15.0 16.6 -9.7 14.6 3.3 30 36 -18.1 Energy Sold Quotas (TWh) (4) 2.6 4.9 -47.0 2.7 -5.1 5 10 -48.4 Average ACR Price (R$/MWh) (5) 225.74 220.97 2.2 221.67 1.8 225.74 216.59 4.2 Average ACL Price (R$/MWh) 191.11 153.67 24.4 193.02 -1.0 191.11 152.06 25.7 Transmission Transmission lines (km) 74,829 73,774 1.4 74,829 0.0 74,829 73,774 1.4 RAP (R$ mm) (6) 16,839 17,209 -2.1 16,824 0.1 33,663 34,372 -2.1 (1) Assured Capacity (AC) reflects: (a) Ordinance GM/MME 544/21, which defined the revision of AC values of the plants that had their concession renewed due to capitalization (plants under the Quotas regime, Tucuruí, Itumbiara, Sobradinho, Mascarenhas de Moraes and Curuá-Una), with a significant reduction in AC as from 2023; (b) Ordinance GM/MME 709/22, with an Ordinary Review of the AC of hydroelectric plants as from 2023, affecting several AXIA Energia plants; (c) exit of Candiota III TPP as of Jan/24 and of Mauá III, Aparecida, Anamã, Anori, Codajás e Caapiranga TPPs as of May/25; (d) inclusion of HPP Colíder and exit of HPP Mauá as of Jun/25, after closing the uncrossing of interests/assets agreed with Copel; (e) inclusion of SPEs that started being consolidated: HPPs Teles Pires (Sep/23), Baguari (Oct/23), Retiro Baixo (Nov/23) and Santo Antonio (Nov/23); (f) exit of Santa Cruz TPP, after the closing and conclusion of its sale in Oct/25; (g) it does not yet reflect the consolidation of the Três Irmãos HPP, a transaction signed in Oct/25 that is still pending closing. (2) Does not include quotas. (3) Includes contracts under Law 13,182/2015. (4) The figures shown are the Assured Capacity of quotas in GWh. (5) Excludes thermal plants and reimbursement of ACR-d and CER contracts. (6) Approved RAP for the current regulatory cycle, associated with active modules at the end of each period, including those that were active at the beginning of the cycle plus those that went into commercial operation. Includes transmission contracts of the companies AXIA Energia Holding, AXIA Energia Nordeste, AXIA Energia Sul, AXIA Energia Norte, TMT and VSB. Table 3 - Financial highlights 2Q26 2Q25 ∆% 1Q26 ∆% 6M26 6M25 ∆% Financial Indicators Gross Revenue (R$ mn) 12,910 12,082 6.9 14,586 -11.5 27,495 24,304 13.1 Adjusted Gross Revenue (R$ mn) 12,910 12,191 5.9 14,586 -11.5 27,495 24,413 12.6 Net Operating Revenue (R$ mn) 11,188 10,199 9.7 12,712 -12.0 23,900 20,613 15.9 Adjusted Net Operating Revenue (R$ mn) 11,188 10,308 8.5 12,712 -12.0 23,900 20,722 15.3 Regulatory Net Operating Revenue (R$ mn) 10,007 9,593 4.3 11,618 -13.9 21,625 19,300 12.0 EBITDA (R$ mn) 5,925 1,259 370.7 7,448 -20.5 13,374 5,576 139.8 Adjusted EBITDA (R$ mn) 6,307 5,151 22.5 8,540 -26.1 14,847 9,567 55.2 Regulatory EBITDA (R$ mn) 6,870 5,820 18.0 8,613 -20.2 15,483 11,305 37.0 Adjusted Regulatory EBITDA (R$ mn) 6,683 5,501 21.5 8,600 -22.3 15,283 10,878 40.5 EBITDA Margin (%) 53.0 12.3 40.6pp 58.6 -5.6pp 56.0 27.1 28.9pp Adjusted EBITDA Margin (%) 56.4 50.0 6.4pp 67.2 -10.8pp 62.1 46.2 16.0pp Net Income (R$ mn) 1,191 -1,325 -189.9 2,631 -54.7 3,821 -1,679 -327.6 Adjusted Net Income (R$ mn) 1,608 1,469 9.5 3,707 -56.6 5,315 1,389 282.6 Adjusted Gross Debt (R$ mn) 72,829 71,042 2.5 74,787 -2.6 72,829 71,042 2.5 Adjusted Net Debt (Adj Net Debt) (R$ mn) 45,461 40,125 13.3 46,045 -1.3 45,461 40,125 13.3 Adj Net Debt/Adjusted LTM EBITDA 1.8 1.5 19.0 1.9 -5.8 1.8 1.5 19.0 Investments (R$ mn) 3,117 2,043 52.6 1,355 130.0 4,472 3,037 47.2 8
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3. HIGHLIGHTS OF CONSOLIDATED RESULTS 3.1. CONSOLIDATED RESULT | IFRS AND REGULATORY Table 4 - Income statement IFRS (R$ mn) 2Q26 2Q25 1Q26 6M26 6M25 IFRS Adjustment Adjusted Adjusted % Y/Y Adjusted % Q/Q Adjusted Adjusted % Y/Y Generation 7,106 0 7,106 6,960 2.1 9,428 -24.6 16,533 13,928 18.7 Transmission 5,657 0 5,657 5,079 11.4 5,015 12.8 10,671 10,264 4.0 Others 147 0 147 152 -3.1 143 2.7 291 221 31.6 Gross Revenue 12,910 0 12,910 12,191 5.9 14,586 -11.5 27,495 24,413 12.6 (-) Deductions from Revenue -1,721 0 -1,721 -1,883 -8.6 -1,874 -8.1 -3,595 -3,691 -2.6 Net Revenue 11,188 0 11,188 10,308 8.5 12,712 -12.0 23,900 20,722 15.3 Energy resale, grid, fuel and construction (1) -3,705 0 -3,705 -3,540 4.7 -3,327 11.4 -7,032 -7,381 -4.7 Personnel, Material, Services and Others -1,578 107 -1,471 -1,431 2.8 -1,441 2.1 -2,912 -2,918 -0.2 Operating provisions -281 204 -78 -177 -56.1 -68 14.6 -145 -262 -44.7 Results from asset sale -83 83 0 0 0.0 0 0.0 0 0 0 Regulatory remeasurements - Transmission contracts 0 0 0 0 0.0 0 0.0 0 -952 n.m. Other income and expenses 12 -12 0 0 0.0 0 0.0 0 0 0.0 Results, before Equity holdings 5,552 382 5,934 5,160 15.0 7,876 -24.6 13,810 9,209 50.0 Equity holdings 373 0 373 -10 n.m. 664 -43.9 1,037 358 n.m. EBITDA 5,925 382 6,307 5,151 22.5 8,540 -26.1 14,847 9,567 55.2 D&A -1,233 0 -1,233 -1,131 9.0 -1,253 -1.6 -2,485 -2,244 10.8 EBIT 4,692 382 5,075 4,019 26.3 7,287 -30.4 12,362 7,323 68.8 Financial Result -3,524 151 -3,373 -2,377 41.9 -3,079 9.5 -6,452 -5,696 13.3 EBT 1,169 533 1,702 1,642 3.6 4,208 -59.6 5,910 1,627 n.m. Income Tax and Social Contribution 22 -116 -94 -173 -45.8 -501 -81.3 -595 -238 n.m. Net Income 1,191 417 1,608 1,469 9.5 3,707 -56.6 5,315 1,389 n.m. (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. 9
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Table 5 - Regulatory IS (R$ mn) 2Q26 2Q25 1Q26 6M26 6M25 Regulatory Adjustment Adjusted Adjusted % Y/Y Adjusted % Q/Q Adjusted Adjusted % Y/Y Generation 7,106 0 7,106 6,945 2.3 9,428 -24.6 16,533 13,968 18.4 Transmission 4,475 0 4,475 4,488 -0.3 3,921 14.1 8,396 8,911 -5.8 Others 147 0 147 152 -3.1 143 2.7 291 221 31.6 Gross Revenue 11,728 0 11,728 11,585 1.2 13,492 -13.1 25,220 23,100 9.2 (-) Deductions from Revenue -1,721 0 -1,721 -1,883 -8.6 -1,874 -8.1 -3,595 -3,691 -2.6 Net Revenue 10,007 0 10,007 9,701 3.1 11,618 -13.9 21,625 19,409 11.4 Energy resale, grid, fuel and construction (1) -2,110 0 -2,110 -2,450 -13.9 -2,001 5.4 -4,112 -5,582 -26.3 Personnel, Material, Services and Others -1,582 107 -1,475 -1,448 1.9 -1,446 2.0 -2,920 -2,940 -0.7 Operating provisions -15 -21 -35 -98 -64.0 -22 61.2 -57 -175 -67.3 Results from asset sale 261 -261 0 0 0.0 0 0.0 0 0 0 Regulatory remeasurements - Transmission contracts 0 0 0 0 0.0 0 0.0 0 0 0 Other income and expenses 12 -12 0 0 0.0 0 0.0 0 0 0.0 Results, before Equity holdings 6,574 -187 6,387 5,706 11.9 8,149 -21.6 14,536 10,711 35.7 Equity holdings 296 0 296 -205 n.m. 452 -34.5 747 166 n.m. EBITDA 6,870 -187 6,683 5,501 21.5 8,600 -22.3 15,283 10,878 40.5 D&A -1,698 0 -1,698 -1,615 5.1 -1,696 0.1 -3,394 -3,206 5.8 EBIT 5,172 -187 4,985 3,887 28.3 6,904 -27.8 11,890 7,672 55.0 Financial Result -3,770 372 -3,398 -2,398 41.7 -3,112 9.2 -6,510 -5,673 14.7 EBT 1,402 185 1,587 1,488 6.6 3,793 -58.2 5,380 1,999 n.m. Income Tax and Social Contribution 90 2 92 -244 n.m. -580 n.m. -488 -345 41.5 Net Income 1,491 188 1,679 1,245 34.9 3,213 -47.7 4,892 1,654 n.m. (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. 10
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3.2. ADJUSTED CONSOLIDATED RESULT | IFRS AND REGULATORY 3.2.1.Adjusted Regulatory Income Statement This section presents the reconciliation between Regulatory and IFRS Income Statements, along with the adjustments related to non-recurring events in the Regulatory Income Statement. A detailed reconciliation is also available in the “Regulatory and IFRS Income Statement Reconciliation” spreadsheet, available on the Company’s Investor Relations website, under Market Information > Historical Financial Information. Table 6 - Regulatory IS x IFRS IS (R$ mn) 2Q26 IFRS Difference 2Q26 Regulatory Non- recurring Adjustment 2Q26 Regulatory Adjusted 2Q25 Regulatory Adjusted % Y/Y Generation 7,106 0 7,106 0 7,106 6,945 2.3 Transmission 5,657 -1,182 4,475 0 4,475 4,488 -0.3 Others 147 0 147 0 147 152 -3.1 Gross Revenue 12,910 -1,182 11,728 0 11,728 11,585 1.2 (-) Deductions from Revenue -1,721 0 -1,721 0 -1,721 -1,883 -8.6 Net Revenue 11,188 -1,182 10,007 0 10,007 9,701 3.1 Construction -1,441 1,441 0 0 0 0 0.0 Energy resale -1,300 0 -1,300 0 -1,300 -1,419 -8.4 Grid -964 154 -811 0 -811 -809 0.2 Fuel 0 0 0 0 0 -222 n.m. Energy resale, grid, fuel and construction (1) -3,705 1,595 -2,110 0 -2,110 -2,450 -13.9 Personnel -820 -2 -821 65 -756 -787 -4.0 Material -55 0 -55 0 -55 -42 30.7 Services -556 0 -556 42 -515 -441 16.8 Others -148 -2 -149 0 -149 -177 -15.9 Personnel, Material, Services and Others -1,578 -3 -1,582 107 -1,475 -1,448 1.9 Operating provisions -281 267 -15 -21 -35 -98 -64.0 Results from asset sale -83 344 261 -261 0 0 0.0 Regulatory remeasurements - Transmission contracts 0 0 0 0 0 0 0.0 Other income and expenses 12 0 12 -12 0 0 0.0 Results, before Equity holdings 5,552 1,022 6,574 -187 6,387 5,706 11.9 Equity holdings 373 -77 296 0 296 -205 n.m. EBITDA 5,925 944 6,870 -187 6,683 5,501 21.5 D&A -1,233 -465 -1,698 0 -1,698 -1,615 5.1 EBIT 4,692 480 5,172 -187 4,985 3,887 28.3 Financial Result -3,524 -246 -3,770 372 -3,398 -2,398 41.7 EBT 1,169 233 1,402 185 1,587 1,488 6.6 Income Tax and Social Contribution 22 67 90 2 92 -244 n.m. Net Income, continued 1,191 301 1,491 188 1,679 1,245 34.9 (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. 11
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3.2.2.Non-recurring Adjustments | Regulatory Income Statement The following adjustments refer to events considered non-recurring: ▪ PMSO (Personnel): R$ 65 million, of which: ▪ (+) R$ 57 million from severance costs ▪ (+) R$ 8 million from Voluntary Dismissal Plans (VDPs) ▪ PMSO (Services): R$ 42 million related to success fees tied to legal contingency reduction ▪ Operating Provisions: -R$ 21 million, including: ◦ (+) R$ 78 million relating to the compulsory loan liability, reflecting the conversion of Class B preferred shares into common shares upon the migration to B3's Novo Mercado, together with the mark-to- market effect based on the LTM average price of those shares ◦ (-) R$ 41 million in estimated losses on investments and impairment ◦ (-) R$ 30 million in provisions for litigation ◦ (-) R$ 28 million due to the reversal of provisions for onerous contracts ▪ Asset Disposal: -R$ 261 million reflecting the results of M&A processes carried out in the period. Each quarter, amounts recognized under this line item are treated as non-recurring and primarily comprise fair value adjustments arising from asset remeasurement, adjustments to amounts paid or received between contract signing and transaction closing, and transaction costs. ▪ Other Revenues and Expenses: -R$ 12 million fully adjusted as non-recurring due to the atypical nature of the underlying items. The main item was the reconciliation of judicial deposits. ▪ Financial Result: R$ 372 million, mainly comprising: ◦ (+) R$ 221 million from the monetary restatement of litigation-related amounts, excluding compulsory loan proceedings ◦ (+) R$ 151 million from the monetary restatement of compulsory loan proceedings ▪ Income Tax and Social Contribution: R$ 2 million on non-recurring items adjusted at the EBT level. 3.2.3.Regulatory Result: Adjusted EBITDA In 2Q26, adjusted regulatory EBITDA totaled R$ 6,683 million, up R$ 1,182 million YoY, reflecting: ▪ R$ 901 million increase in generation results, excluding thermal power plants, which more than offset higher costs for energy purchased for resale and electricity grid usage charges ▪ R$ 500 million increase in equity income ▪ R$ 63 million reduction in operating provisions These effects more than offset: ▪ R$ 228 million decline in thermal power plant results, following the completion of their divestment ▪ R$ 56 million increase in PMSO costs and expenses ▪ R$ 13 million drop in transmission revenue, notably the R$ 40 million provision related to restitution liabilities Equity income was R$ 296 million in 2Q26, up by R$ 500 million YoY, mainly reflecting: ▪ Recognition of Equatorial Maranhão’s 2Q25 results only in 3Q25 ▪ Eletronuclear's classification as asset held for sale in 3Q25 ▪ Improvement of ISA Energia’s results in the period ▪ IE Madeira's classification as asset held for sale in 2Q26 It is also worth noting that if one excludes the results from the thermal power plants sold in May and October 2025, EBITDA went up R$ 1,410 million, to R$ 6,683 million in 2Q26 from R$ 5,273 million in 2Q25. 12
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Table 7 - Adjusted regulatory EBITDA, without thermal power plants (R$ mn) 2Q26 Thermal Power Plants (TPP) 2Q26 Excluding TPP 2Q25 Thermal Power Plants (TPP) 2Q25 Excluding TPP Generation 7,106 0 7,106 6,945 740 6,205 Transmission 4,475 0 4,475 4,488 0 4,488 Others 147 0 147 152 0 152 Gross Revenue 11,728 0 11,728 11,585 740 10,845 (-) Deductions from Revenue -1,721 0 -1,721 -1,883 -49 -1,834 Net Revenue 10,007 0 10,007 9,701 691 9,010 Energy resale, grid, fuel and construction (1) -2,110 0 -2,110 -2,450 -434 -2,017 Personnel, Material, Services and Others -1,475 0 -1,475 -1,448 -29 -1,418 Operating provisions -35 0 -35 -98 0 -98 Results, before Equity holdings 6,387 0 6,387 5,706 228 5,478 Equity holdings 296 0 296 -205 0 -205 EBITDA 6,683 0 6,683 5,501 228 5,273 (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. 13
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4. ENERGY TRADING AXIA Energia companies sold 25.2 TWh of energy in 2Q26, down 16.9% compared to the 30.3 TWh traded in 2Q25. The volumes sold include energy from plants under the quota regime, renewed under Law 12,783/2013, as well as from plants operating under the ACL and ACR exploration regimes and consolidated Special Purpose Entities (SPEs): Teles Pires, Baguari, Retiro Baixo and Santo Antônio HPPs. Table 8 - Energy balance 2Q26 (aMW) 2026 2027 2028 Resources (A) 17,933 18,330 18,122 Own resources (1) (2) (3) (4) 15,541 16,731 16,726 Hydraulic 15,263 16,452 16,447 Wind 279 279 279 Energy Purchase (5) 2,391 1,599 1,396 Limit => Lower Higher Lower Higher Lower Higher Sales (B) 11,042 14,042 7,649 10,649 5,048 11,048 ACR - Except quotas 3,542 3,149 3,048 ACL - Bilateral Contracts (range) + STM implemented (5) 7,500 10,500 4,500 7,500 2,000 8,000 Average prices Contracts signed Limit => Lower Higher Lower Higher Lower Higher Average Price of Sales Contracts (ACR and ACL - R$/MWh) (6) 190 210 200 230 190 230 Balance (A - B) 6,891 3,891 10,681 7,681 13,074 7,074 Balance considering estimated hedge (7) 4,306 1,306 7,894 4,894 10,288 4,288 Uncontracted energy considering estimated hedge (7) 24% 7% 43% 27% 57% 24% Contracts signed until 6/30/2026. The energy balance reflects the SPEs consolidated into AXIA Energia: Santo Antônio HPP (as of 3Q22) and Baguari and Retiro Baixo HPPs (as of 4Q23) in terms of resources, sales, and average prices. Similarly, Teles Pires HPP, an SPE consolidated into AXIA Energia Norte (as of 4Q23), is also included. 1. Own Resources include the decotization plants (new Independent Power Producers - IPPs) and the New Grants—Sobradinho, Itumbiara, Tucuruí, Curuá-Una, and Mascarenhas de Moraes. For hydroelectric projects, an estimated GFIS2 was considered, that is, the Assured Capacity adjusted for Internal Loss Factors, Basic Network Loss Factors, and Availability Factors, as well as adjustments for portfolio-specific characteristics. 2. The revised Assured Capacity values, as outlined in Ordinance No. 709/GM/MME, of November 30, 2022, have been taken into account. 3. With the gradual phasing out of quota-based generation legacy contracts (decotization), plants currently operating under the quota regime are gradually granted new concessions under the IPP regime over a five-year period beginning in 2023. The Assured Capacity values were established in Ordinance GM/MME No. 544/21. 4. Considering the new concession grants from 2023 onward for the Sobradinho, Itumbiara, Tucuruí, Curuá-Una, and Mascarenhas de Moraes plants, whose Assured Capacity values were established in Ordinance GM/MME No. 544/21. 5. Purchase balances include all energy purchased for resale: (a) short-term purchases under contracts with terms of less than 12 months and (b) structural purchases under contracts with terms of 12 months or more; Additionally, the balances include intercompany transactions, impacting both energy purchase and sales in the free market (ACL), in the following amounts: approximately 550 aMW in 2026, 500 aMW in 2027 and 150 aMW in 2028. 6. Average prices are gross of PIS/COFINS taxes (at 9.25%) and are not directly comparable to BBCE prices, which are net of taxes. 7. The figures represent an estimate of uncontracted energy. The estimated value for 2026, 2027 and 2028 is 83.1%, in line with average historical GSF from 2020 to 2025. Source: CCEE, obtained from the CCEE website at the following link: https://www.ccee.org.br/dados-e-analises/dados-geracao (in Portuguese only, select the MRE option in the panel). It is important to note that this is only an estimate, based on past events. Table 9 - Assured capacity quotas of hydroelectric power plants (aMW) 2025 2026 2027 Assured Capacity Quotas (8) (9) 2,626 1,313 0 8. Includes only the Assured Capacity of generation assets undergoing removal from the quota regime following the privatization of Eletrobras, now AXIA Energia. The figures exclude the Assured Capacity of the Jaguari HPP (12.7 aMW), whose concession remains under AXIA Energia’s interim management, and the Três Irmãos HPP (206.7 aMW), which has been consolidated since the completion of the acquisition of a 50.1% interest in Tijoá Energia on June 2, 2026, as disclosed in the Material Fact published on the same date. 9. Decotization occurs gradually over a five-year period beginning in 2023. The Assured Capacity values applied from 2023 onward are those established in Ordinance GM/MME No. 544/21. 14
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5. INVESTMENTS AND EXPANSION PROJECTS Investments totaled R$ 3,117 million in 2Q26 and R$ 4,472 million in 6M26, representing increases of 52.6% and 47.2% compared to 2Q25 and 6M25, respectively. Of total transmission investments, 37% was allocated to expansion projects, 36% to large-scale reinforcement and improvement projects, 26% to small-scale R&I projects, and the remaining 1% to maintenance. The amount invested in infrastructure was allocated as follows: ▪ 65% for IT ▪ 23% for equipment and machinery ▪ 12% for real estate In the socio-environmental area, key highlights included investments related to the maintenance of operating licenses for power plants and substations, as well as land compensation. A breakdown of investments by the holding company and its main subsidiaries is available in the operating data spreadsheet in the Modeling Guide section of the Company’s Investor Relations website. Table 10 - Investments (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Generation Corporate 297 357 -16.9 185 61.0 482 524 -8.1 Implementation / Expansion 9 45 -81.1 11 -24.5 20 82 -75.7 Maintenance 289 312 -7.5 173 66.6 462 442 4.5 Transmission Corporate 1,721 1,199 43.5 977 76.1 2,698 1,854 45.5 Expansion 636 85 n.m. 263 n.m. 899 139 n.m. Reinforcements and improvements 1,073 1,108 -3.2 691 55.3 1,764 1,704 3.5 Large-scale 622 763 -18.4 386 61.2 1,009 1,140 -11.5 Small-scale 451 346 30.4 305 47.9 756 564 34.0 Maintenance 11 5 n.m. 23 -51.6 35 11 n.m. Infrastructure 112 117 -4.4 67 68.1 179 161 11.2 Environmental 82 67 22.4 86 -3.8 168 114 47.1 SPEs 733 225 n.m. 0 0.0 733 225 n.m. Generation - Contributions 0 0 0.0 0 0.0 0 0 0.0 Generation - Acquisition 0 0 0.0 0 0.0 0 0 0.0 Transmission - Contributions 733 225 n.m. 0 0.0 733 225 n.m. Transmission - Acquisition 0 0 0.0 0 0.0 0 0 0.0 Investment for Special Obligation – Itaipu HVDC 172 77 n.m. 41 n.m. 213 159 33.6 Total 3,117 2,043 52.6 1,355 n.m. 4,472 3,037 47.2 15
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Expansion Projects - Transmission Large-Scale Projects ▪ Projects: 2881, including the Itaipu HVDC System Revitalization project. The sample was increased from 286 to 288 projects during the quarter, due to the inclusion of 12 new authorizations issued by the regulator and 10 projects that were energized. ▪ Estimated investment: R$ 6.86 billion , excluding the Itaipu HVDC System Revitalization project, as AXIA Energia is responsible solely for its execution, and therefore does not benefit from associated revenue while being fully reimbursed for the amount disbursed. ▪ Auctions: Investments of R$ 8.68 billion, mainly driven by: ◦ Nova Era Janapu, which was part of the sample since 2Q24 ◦ Nova Era Catarina, Nova Era Ceará, Nova Era Integração and Nova Era Teresina, added in 3Q242 ◦ AXIA Energia Transmissora Nova Ponte, AXIA Energia Transmissora Paracatu, AXIA Energia Transmissora Carnaúba and AXIA Energia Transmissora Seridó, included in 1Q262 ◦ The sample also includes Lots 8, 9, and 10 of Auction No. 01/2026, awarded to AXIA Energia Sul on July 3, 2026 ▪ Additional associated RAP: R$ 2 billion between 2026-2030. ▪ Notably, August 3, 2026 marked the beginning of commercial operations at AXIA Energia’s Chapecoense Substation, 17 months ahead of ANEEL’s deadline. The project is part of Lot 9, awarded to the Company in ANEEL Transmission Auction No. 001/2024 and will add R$ 12.7 million to the Company’s RAP. Small-Scale Projects ▪ Developments: 7,418 small-scale events under implementation or to be implemented, of which 7,049 were improvements and 369 were reinforcements. Data from ONS Improvement and Reinforcement Plan Management System (SGPMR). 16 1 Referring to reinforcements, improvements and auction-related projects. Considers projects registered in ANEEL's Transmission Management System (SIGET). Projects are included when added to the system and excluded when they are either canceled or enter commercial operation. The 288 projects will add 2,332 km of transmission lines and 20,616 MVA in substations. 2 Each of the 9 SPEs created holds the contracts signed in last years' transmission auctions. SPE Nova Era Janapu holds contract no. 09/2023-ANEEL for the 4th lot of Auction 01-2023; SPE Nova Era Teresina holds contract no. 04/2024-ANEEL for the 1st lot of Auction 01-2024; SPE Nova Era Ceará holds contract no. 06/2024-ANEEL for the 3rd lot of Auction 01-2024; SPE Nova Era Integração holds contract no. 08/2024-ANEEL for the 5th lot of Auction 01-2024; and SPE Nova Era Catarina holds contract no. 12/2024-ANEEL for the 9th lot of Auction 01-2024. SPE AXIA Energia Transmissora Nova Ponte holds contract no. 006/2026-ANEEL for lot 6A of auction 04-2025; SPE AXIA Energia Paracatu holds contract no. 007/2026-ANEEL for lot 6B of auction 04-2025; SPE AXIA Energia Carnaúba holds contract no. 008/2026-ANEEL for lot 7A of auction 04-2025; and SPE AXIA Energia Seridó holds contract no. 009/2026-ANEEL for lot 7B of auction 04-2025. Lots 8, 9 and 10 of Auction No. 01/2026, awarded to AXIA Energia Sul on July 3, 2026, are expected to have their contracts signed on September 9, 2026.
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Table 11 - Portfolio of ongoing transmission projects 2Q26 2Q25 % 1Q26 % Large Scale: Reinforcement and Improvement Estimated Portfolio Investment (R$ bi) 6.9 7.0 -1.3 7.0 -1.3 Additional RAP associated (R$ bi) 1.1 1.1 -0.8 1.1 -2.0 # of projects in the beginning of the period 277 235 17.9 215 28.8 (-) energized -10 -9 11.1 -11 -9.1 (-) cancelled 0 0 0.0 -1 n.m. (+) new authorizations 9 18 -50.0 74 -87.8 # of projects in the end of the period 276 244 13.1 277 -0.4 Large Scale: Expansion (Auctions in implementation) Estimated Portfolio Investment (R$ bi) 8.7 6.4 36.4 8.0 8.3 Additional RAP associated (R$ bi) 0.9 0.7 30.5 0.9 5.9 # of projects in the beginning of the period 9 6 50.0 9 0.0 (-) energized 0 0 0.0 0 0.0 (-) cancelled 0 0 0.0 0 0.0 (+) new authorizations 3 0 0.0 0 0.0 # of projects in the end of the period 12 6 n.m. 9 33.3 Small Scale # of projects in the end of the period 7,418 9,194 -19.3 7,805 -5.0 Improvement 7,049 8,668 -18.7 7,399 -4.7 Reinforcement 369 526 -29.8 406 -9.1 17
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6. INDEBTEDNESS Net debt totaled R$ 45,461 million in 2Q26, down R$ 585 million sequentially and up R$ 5,336 million YoY. The Company's total average cost decreased to CDI - 0.02% p.a. in 2Q26 from CDI + 0.58% p.a. in 2Q25 while average debt maturity was reduced by 2.7 months vs the same period in 2025. In April, the 3rd series of AXIA Energia’s 2nd debenture issuance and the 1st series of its 3rd debenture issuance matured, in the amounts of R$ 1.0 billion and R$ 1.2 billion, respectively. In May, AXIA Energia Norte strengthened its capital structure by raising R$ 500 million with a two-year maturity. In July, AXIA Energia completed its 9th, 10th and 11th issuances of non-convertible debentures, totaling R$ 3.5 billion, with maturities of seven and ten years. Table 12 - Net debt (R$ mn) 06/30/2026 03/31/2026 06/30/2025 (+) Gross Debt, including derivatives 72,829 74,787 71,042 (+) Gross Debt 70,973 73,524 70,290 (+) Derivatives (currency hedge) Net 1,857 1,263 752 (-) Cash and Cash Equivalents + Current Securities 26,229 27,677 29,387 (-) Restricted Cash for Loans and Financing 941 868 899 (-) Loans receivable 199 196 632 Net Debt 45,461 46,045 40,125 Adjusted Net Debt / Adjusted Regulatory EBITDA LTM 1.7x 1.8x 1.8x Net Debt's Average Term (months) 53.8 54.5 56.5 Below are the gross debt maturity schedule and its breakdown by index, according to the index profile, as well as the respective spreads over each index, considering gross debt including derivatives. A more detailed breakdown is available in the modeling guide spreadsheet in the Results Center on the Company’s Investor Relations website. Chart 2 - Debt maturity schedule after hedge (R$ billion) 7.2 8.0 6.9 7.9 7.7 33.7 1.4 0.1 Fixed rate EUR CDI + CDI (%) IPCA TJLP 2026 2027 2028 2029 2030 From 2031 to 2035 From 2036 to 2040 From 2041 to 2045 Table 13 - Debt breakdown, including hedge Index Average Cost Total Balance (R$ million) Share of Total (%) CDI + CDI + 0.92% 41,754 57.3 IPCA IPCA + 5.92% 21,843 30.0 % of CDI 122% of CDI 4,965 6.8 TJLP TJLP + 1.98% 2,644 3.6 Fixed Rate 5.52% per year 1,454 2.0 EUR 2.63% per year 169 0.2 Total 72,829 100.0 18
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7. COMPULSORY LOAN AXIA Energia has implemented measures to mitigate risks associated with legal proceedings related to compulsory loans on electricity 1. To address this, the Company has strengthened its legal defense strategy and pursued settlements with discounts and full resolution of lawsuits. As a result of the negotiations: ▪ The inventory of provisions was reduced by R$ 1.3 billion YoY and R$ 278 million sequentially, totaling R$ 10.8 billion in 2Q26, mainly due to the settlements ▪ Net reversal of R$ 98 million due to executed agreements and favorable decisions in the quarter ▪ R$ 151 million was the amount recorded in 2Q26 under financial expenses related to monetary restatements ▪ With the execution of new agreements in 2Q26, R$ 25.2 million in guarantees previously deposited in court will be released upon approval, bringing the total released since 3Q22 to R$ 2.7 billion Since 3Q22, when negotiations began, the provision inventory related to compulsory loan fell by R$ 15.1 billion, reaching R$ 10.8 billion in 2Q26, even considering the accumulated R$ 3.3 billion monetary restatement in the same period. The agreements also enabled the e limination of R$ 11.2 billion in legal risks considered "off balance", of which R$ 1.2 billion was classified as possible and R$ 10.0 billion as remote. The significant reduction in provisions between 2022 and 2026 reflects the successful strategy of prioritizing the highest-value and most critical legal proceedings, thereby changing the risk profile of the compulsory loan portfolio. The remaining portfolio is spread across a larger number of lower-value cases and presents less concentration risk, as most cases involving significant individual exposure have been resolved, primarily through settlements. Following the resolution of the cases with the greatest financial impact in previous cycles, the current strategy focuses on reducing the remaining caseload. While this may result in a lower perceived impact on the provision balance, the Company continues to maintain a disciplined approach to negotiations to sustain the downward trend in provisions, mitigate risks and offset the effects of monetary restatement. Chart 3 - Total inventory of compulsory loan provisions 2Q26 x 2Q25 (R$ bn) 12.08 -0.57 -0.40 -0.99 0.65 10.76 Balance 2Q25 Derisking initiatives (e.g., discount agreements) Conviction payments Reclassification of settlements to liabilities Monetary restatement (Selic) Balance 2Q26 19 1 Starting in 3Q25, the figures presented in this section fully encompass all procedural matters related to the topic, rather than only the book-entry credits, which represented approximately 99% of the total balance and had been the focus of this section in previous quarters. As a result, the figures disclosed herein may show slight variations compared to those reported in prior periods.
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Chart 4 - Total inventory of compulsory loan provisions 2Q26 x 1Q26 (R$ bn) 11.04 -0.10 -0.07 -0.26 0.15 10.76 Balance 1Q26 Derisking initiatives (e.g., discount agreements) Conviction payments Reclassification of settlements to liabilities Monetary restatement (Selic) Balance 2Q26 20
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8. CASH FLOW In 2Q26, the main positive cash flow drivers were: ▪ Regulatory result of R$ 6.4 billion ▪ A R$ 3.4 billion working capital release, reflecting the collection of energy revenues settled in the short-term market in 1Q26 ▪ Lower litigation-related payments These positive effects were partially offset by: ▪ Higher debt-servicing expenses ▪ Increased debt repayments and privatization-related charges ▪ Higher investments ▪ Capital contributions to investee companies Table 14 - Cash flow (R$ mn) 2Q26 2Q25 ∆% Adjusted Regulatory Result, before Equity Holdings 6,387 5,706 11.9 EBITDA Adjustment * -74 319 n.m. Income Tax and Social Contribution -105 -39 n.m. Working Capital 3,390 -311 n.m. Privatization Charges -2,299 -1,803 27.4 Dividends Received 493 249 97.8 Operating Cash Flow 7,792 4,121 89.1 Investments ** -2,834 -1,571 80.4 Free Cash Flow 4,958 2,550 94.4 Debt Service -2,692 -1,224 n.m. Litigation -587 -1,346 -56.4 Guarantees and Restricted Deposits 56 545 -89.7 Supplementary social security -84 -149 -43.9 Net Funding *** -2,701 -1,376 96.3 Receipt of Loans and Financial Charges 1 1 -32.0 Disposal and investments of equity holdings -682 2,021 n.m. Dividends -90 -1,805 -95.0 Free Net Cash -1,821 -782 n.m. Change in Restricted Cash (short and long term) -171 364 n.m. Change in Financial Investments (long-term) 39 -1 n.m. Net Cash -1,953 -419 n.m. * Excludes the adjustment to the gain or loss on asset disposals line item. ** Excludes capital contributions to generation companies. *** Net proceeds: debt raised, net of issuance costs. 21
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FINANCIAL AND OPERATIONAL RESULTS ANALYSIS 9. FINANCIAL PERFORMANCE 9.1. Operational and Financial Results The table below presents the contribution of the AXIA Energia Group’s two main business segments— generation and transmission—based on their respective revenue and direct costs. Other costs and expenses, equity income, net financial result and taxes are analyzed on a consolidated basis. Table 15 - Income statement 2Q26 (R$ mn) Income Statement IFRS (a) Adjustment (b) Regulatory (c)=(a)+(b) Non Recurring (d) Adjusted Regulatory (e)=(c)+(d) Generation (e.1) Transmission (e.2) Others (e.3) Eliminations (e.4) (1) Gross Revenue 12,910 -1,182 11,728 0 11,728 7,106 4,741 147 -266 (-) Deductions -1,721 0 -1,721 0 -1,721 -1,000 -717 -5 0 Net Revenue 11,188 -1,182 10,007 0 10,007 6,106 4,025 143 -266 Energy purchased for resale (2) -1,300 0 -1,300 0 -1,300 -1,300 0 0 0 Charges on use of the electricity grid -964 154 -811 0 -811 -1,077 0 0 266 Fuel for electricity production (net of CCC) 0 0 0 0 0 0 0 0 0 Other Non-manageable Generation Costs (3) -76 0 -76 0 -76 -76 0 0 0 Construction costs -1,441 1,441 0 0 0 0 0 0 0 Regulatory remeasurements 0 0 0 0 0 0 0 0 0 Contribution Margin 7,407 414 7,820 0 7,820 3,653 4,025 143 0 PMSO, excluded Other Generation Costs (3) -1,502 -3 -1,505 107 -1,398 Provisions -281 267 -15 -21 -35 Results from asset sale -83 344 261 -261 0 Other income and expenses 12 0 12 -12 0 Results, before Equity holdings 5,552 1,022 6,574 -187 6,387 Equity holdings 373 -77 296 0 296 EBITDA 5,925 944 6,870 -187 6,683 D&A -1,233 -465 -1,698 0 -1,698 EBIT 4,692 480 5,172 -187 4,985 Financial Result -3,524 -246 -3,770 372 -3,398 EBT 1,169 233 1,402 185 1,587 Income Tax and Social Contribution 22 67 90 2 92 Net Income 1,191 301 1,491 188 1,679 (1) Eliminations: These refer to the portion of transmission system usage charges paid by AXIA Energia's generators to the Company's own transmission companies, which receive them as RAP. For accounting consolidation purposes (Tables 5 and 6), these amounts are eliminated from both transmission revenue and generation usage charges. For management purposes, gross transmission revenue in 2Q26 is R$ 4,741 million, and including the accounting elimination of R$ 266 million, this translates into accounting revenue of R$ 4,475 million. In the case of generation connection charges costs, for management purposes, the amount in 2Q26 is R$ 1,077 million, and including the accounting elimination of R$ 266 million, this translates into an accounting cost of R$ 811 million. (2) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. (3) The "RHR Hedge Cost" and "Other Operating Costs" lines, related to the generation segment costs, make up the "Other PMSO Costs" line under the accounting view. For a better understanding of the contribution margin by segment, from a management perspective, both lines are allocated in the composition of the contribution margin from generation. In 2Q26, the adjusted regulatory PMSO under the accounting view totaled R$ 1,475 million , composed of R$ 52 million in RHR hedge costs and R$ 24 million in other generation operating costs, both allocated in the margin from generation, and R$ 1,398 million in other manageable costs and expenses components for personnel, materials, services and other. At the same time, in 2Q26, the adjusted IFRS PMSO from an accounting perspective totaled R$ 1,471 million , comprised of R$ 52 million in RHR hedge costs and R$ 24 million in other generation operating costs, both allocated to the margin from generation, and R$ 1,395 million in other manageable costs and expenses components related to personnel, materials, services, and other. 22
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Table 16 - Income statement 2Q25 (R$ mn) Income Statement IFRS (a) Adjustment (b) Regulatory (c)=(a)+(b) Non Recurring (d) Adjusted Regulatory (e)=(c)+(d) Generation (e.1) Transmission (e.2) Others (e.3) Eliminations (e.4) (1) Gross Revenue 12,082 -606 11,476 109 11,585 6,945 4,760 152 -273 (-) Deductions -1,883 0 -1,883 0 -1,883 -1,047 -789 -47 0 Net Revenue 10,199 -606 9,593 109 9,701 5,898 3,972 105 -273 Energy purchased for resale (2) -1,327 -92 -1,419 0 -1,419 -1,419 0 0 0 Charges on use of the electricity grid -955 146 -809 0 -809 -1,082 0 0 273 Fuel for electricity production (net of CCC) -222 0 -222 0 -222 -222 0 0 0 Other Non-manageable Generation Costs (3) -66 0 -66 0 -66 -66 0 0 0 Construction costs -1,036 1,036 0 0 0 0 0 0 0 Regulatory remeasurements -3,433 3,433 0 0 0 0 0 0 0 Contribution Margin 3,160 3,916 7,076 109 7,185 3,109 3,972 105 0 PMSO, excluded Other Generation Costs (3) -1,593 -16 -1,609 228 -1,381 Provisions -133 130 -3 -95 -98 Results from asset sale -105 610 504 -504 0 Other income and expenses 57 0 57 -57 0 Results, before Equity holdings 1,385 4,640 6,025 -319 5,706 Equity holdings -126 -78 -205 0 -205 EBITDA 1,259 4,561 5,820 -319 5,501 D&A -1,131 -483 -1,615 0 -1,615 EBIT 127 4,078 4,206 -319 3,887 Financial Result -2,555 -73 -2,627 229 -2,398 EBT -2,427 4,006 1,578 -90 1,488 Income Tax and Social Contribution 1,102 -1,432 -330 86 -244 Net Income -1,325 2,573 1,248 -4 1,245 (1) Eliminations: These refer to the portion of transmission system usage charges paid by AXIA Energia's generators to the Company's own transmission companies, which receive them in the form of RAP. For accounting consolidation purposes (Tables 5 and 6), these amounts are eliminated from both transmission revenue and generation usage charges. For management purposes, gross transmission revenue in 2Q25 is R$ 4,760 million , and including the accounting elimination of R$ 273 million , this translates into accounting revenue of R$ 4,488 million . In the case of generation connection charges costs, for management purposes, the value in 2Q25 is R$ 1,082 million, and including the accounting elimination of R$ 273 million, this translates into an accounting cost of R$ 809 million. (2) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. (3) The "RHR Hedge Cost" and "Other Operating Costs" lines, related to generation segment costs, make up the "Other PMSO Costs" line under the accounting view. For a better understanding of the contribution margin by segment, from a management perspective, both lines are allocated in the composition of the contribution margin from generation. In 2Q25, the adjusted regulatory PMSO under the accounting view totaled R$ 1,448 million, composed of R$ 45 million in RHR hedge costs and R$ 21 million in other generation operating costs, both allocated in the margin from generation, and R$ 1,381 million in other manageable costs and expenses components for personnel, materials, services and others. At the same time, in 2Q25, the adjusted IFRS PMSO from an accounting perspective totaled R$ 1,431 million, comprised of R$ 45 million in RHR hedging costs and R$ 21 million in other generation operating costs, both allocated to the margin from generation, and R$ 1,365 million in other manageable costs and expenses components related to personnel, materials, services, and others. 23
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9.2. Generation Segment Revenue by Contracting Environment Recurring regulatory revenue was R$ 7,106 million in 2Q26, in line with adjusted IFRS generation revenue. In 2Q25, recurring regulatory revenue was R$ 6,945 million, R$ 15 million less than the adjusted IFRS generation revenue. This difference reflected the accounting treatment of the portion of revenue from Amazonas Energia related to previously unpaid amounts, following a change in the assessment of receivables. Under IFRS, these amounts were recognized as revenue, while under regulatory accounting—where such recognition had already occurred—there was also a reversal of the provision recorded at that time. The difference, which had been recognized in previous comparison periods, had the same nature at that time. Regulatory revenue in the regulated market was R$ 1,657 million in 2Q26, down 30% from the R$ 2,365 million recorded in 2Q25, with two main factors contributing to this: ▪ A R$ 740 million reduction reflecting the absence in 2Q26 of revenue from thermal power plant energy sales, following the divestment completed on October 9, 2025 ▪ A R$ 40 million 1 provision recorded in 2Q26 related to reimbursements to counterparties under availability contracts in the regulated market (ACR) and reserve energy, due to underdelivery of contracted wind energy as a result of insufficient generation Table 17 - Generation revenue by contracting environment (R$ mn) Revenue Generation Volume (aMW) (a) Price (R$/MWh) (b) Regulatory Revenue (c) = (a) x (b) 2Q26 % Y/Y % Q/Q 2Q26 % Y/Y % Q/Q 2Q26 % Y/Y % Q/Q (+) Regulated Market 3,442 -13.9 -7.5 220 -18.6 1.4 1,657 -30.0 -5.2 Existing 3,320 1.3 -7.6 225 2.9 1.8 1,631 4.2 -4.8 Reimbursement from ACR- d and CER (1) 0 0.0 0.0 0 0.0 0.0 -40 0.0 18.0 M&As (2) 122 35.1 -6.3 246 -19.9 1.6 66 8.2 -3.8 Thermal 0 -100.0 0.0 0 0.0 0.0 0 -100.0 0.0 (+) Free Market 6,883 -9.7 2.1 191 24.4 -1.0 2,873 12.3 2.2 Existing 6,830 -10.4 2.3 191 24.4 -1.0 2,851 11.5 2.4 M&As (2) 53 0.0 -17.0 185 0.0 1.3 21 0.0 -15.0 (+) O&M (Quotas) 1,192 -47.0 -6.1 109 4.6 8.8 283 -44.5 3.2 Existing 1,133 -49.6 -10.8 103 -0.7 3.3 255 -50.0 -6.8 M&As (2) 59 0.0 0.0 213 0.0 0.0 28 0.0 0.0 (+) ST Market (CCEE) (4) 5,111 27.7 -18.4 205 18.6 -39.5 2,294 51.5 -50.1 (=) Revenue with energy sold 16,628 -6.9 -7.6 196 9.9 -19.3 7,106 2.3 -24.6 (+) Other — — — — — — 0 -100.0 0.0 (=) Total Revenue — — — — — — 7,106 3.9 -24.6 Recurring — — — — — — 7,106 2.3 -24.6 Non-recurring — — — — — — 0 n.m. 0.0 24 1 Amount related to impact on gross revenue. The impact on net revenue was R$ 36 million.
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Revenue Generation Regulatory Revenue (c) Accounting Adjustment (d) (5) Accounting Revenue (e) = (c) + (d) 2Q26 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 2Q25 % Y/Y 1Q26 % Q/Q Regulated Market 1,657 2,365 1,748 0 15 0 1,657 2,381 -30.4% 1,748 -5.2 Free Market 2,873 2,557 2,810 0 0 0 2,873 2,557 12.3% 2,810 2.2 O&M (Quotas) 283 510 274 0 0 0 283 510 -44.5% 274 3.2 Short-term market (4) 2,294 1,514 4,596 0 0 0 2,294 1,514 51.5% 4,596 -50.1 Energy Sales 7,106 6,946 9,428 0 15 0 7,106 6,962 2.1% 9,428 -24.6 Others 0 -111 0 0 0 0 0 -111 -100.0% 0 0.0 Total Revenue 7,106 6,836 9,428 0 15 0 7,106 6,851 3.7% 9,428 -24.6 Recurring 7,106 6,945 9,428 0 15 0 7,106 6,960 2.1% 9,428 -24.6 Non-recurring 0 -109 0 0 0 0 0 -109 n.m. 0 0.0 (1) Provision due to energy committed under ACR-d and CER contracts, but neither generated nor supplied. (2) M&A: includes revenue from assets in which AXIA Energia’s ownership interest changed during the previous 12 months. In 2Q26, the R$ 66 million M&A contribution to regulated market revenue reflects the consolidation of the Três Irmãos HPP following the acquisition, completed on June 2, 2026, of all shares in Juno Participações e Investimentos S.A. held by its former shareholders. Juno held a 50.1% controlling interest in Tijoá Energia, while AXIA Energia already held the remaining 49.9%. Tijoá Energia holds the concession for the Três Irmãos HPP. (3) Short-term market: the Brazilian electric energy trading chamber (CCEE). (4) The differences between IFRS and regulatory revenues in 2Q25 refer to energy sold and unpaid for by Amazonas Energia, which was not recognized as revenue under IFRS accounting, but recorded under regulatory accounting, where it was fully provisioned. Regulatory Margin from Generation The contribution margin from generation captures the value added by this segment’s results, considering energy trading and directly related costs, thus excluding Personnel, Materials, Services, and Other expenses. The contribution of generation to the results increased to R$ 3,653 million in 2Q26 from R$ 3,109 million in 2Q25. This result primarily reflects the higher contribution from energy sales in the free market (ACL) and settlements in the short-term market (MCP). This increase more than offset lower sales from thermal power plants and the reduced contribution from energy remunerated under the quota regime, reflecting the removal from this regime of plants whose concessions were renewed following privatization. The main drivers for the MCP result are: ▪ Higher volume of energy available, reflecting the additional energy released for sale following the end of the quota regime along with higher GSF (99.2% in 2Q26 vs 95.6% in 2Q25) ▪ Higher short-term price (PLD) in the North, Northeast, and South submarkets, offsetting the drop in the Southeast/Central-West ▪ Higher contribution from hourly allocation of contracted volumes (modulação) In unit terms, the margin by volume of available energy (energy resource) increased to R$ 106/MWh in 2Q26 from R$ 90/MWh in 2Q25. It is worth noting that, when excluding the thermal power plant results ( Table 19), the unit contribution margin rose to R$ 106/MWh in 2Q26 from R$ 86/MWh in 2Q25, while energy resources increased in the period, up to 15,767 aMW from 15,310 aMW. Considering only the energy traded in the ACL and settled in the MCP, the contribution margin increased to R$ 96/MWh in 2Q26 from R$ 73/MWh in 2Q25, resulting in a contribution margin of R$ 2,329 million. 25
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Table 18 - Generation - adjusted contribution margin, regulatory (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Gross Revenue 7,106 6,945 2.3 9,428 -24.6 16,533 13,968 18.4 Taxes -636 -671 -5.2 -706 -10.0 -1,342 -1,392 -3.6 Sector charges -364 -376 -3.2 -398 -8.4 -762 -686 11.1 Net Revenue 6,106 5,898 3.5 8,323 -26.6 14,429 11,890 21.4 Energy purchased for resale (1) -1,300 -1,419 -8.4 -1,226 6.0 -2,526 -3,142 -19.6 Charges on use of the electricity grid (2) -1,077 -1,082 -0.5 -1,038 3.7 -2,115 -2,204 -4.0 Fuel for electricity production (net of CCC (3)) 0 -222 n.m. -2 -99.5 -2 -782 -99.8 Other Non-manageable Generation Costs -76 -66 15.2 -75 1.7 -151 -123 23.1 GSF Insurance (4) -52 -45 15.5 -53 -2.3 -105 -81 29.1 Others (5) -24 -21 14.6 -22 11.5 -46 -41 11.3 Contribution Margin 3,653 3,109 17.5 5,982 -38.9 9,635 5,639 70.9 Resources (MWm) (6) 15,767 15,786 -0.1 17,522 -10.0 16,640 17,327 -4.0 Unit Margin (R$/MWh) 106 90 17.7 158 -32.9 133 75 77.9 (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. (2) Does not consider the accounting elimination effect of charges paid to the Company's own transmission segment. (3) CCC: Conta de Consumo de Combustíveis, or Fuel Consumption Account, is responsible for management of payments made by distribution and transmission companies to subsidize the costs of generators serving Isolated Systems. (4) RHR: Renegotiation of Hydrological Risk (5) Others: association contributions (CCEE and ONS) and other costs. (6) Includes own resources and structural purchases, taking into account contracts with a supply duration longer than 12 months. Table 19 - Generation, ex thermal power plants - adjusted contribution margin, regulatory (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Gross Revenue 7,106 6,205 14.5 9,428 -24.6 16,533 11,937 38.5 Taxes -636 -622 2.2 -706 -10.0 -1,342 -1,273 5.4 Sector charges -364 -377 -3.3 -398 -8.4 -762 -686 11.1 Net Revenue 6,106 5,207 17.3 8,323 -26.6 14,429 9,977 44.6 Energy purchased for resale (1) -1,300 -1,272 2.2 -1,226 6.0 -2,526 -2,679 -5.7 Charges on use of the electricity grid (2) -1,077 -995 8.2 -1,038 3.7 -2,115 -1,987 6.5 Fuel for electricity production (net of CCC (3)) 0 0 0.0 0 0.0 0 0 0.0 Other Non-manageable Generation Costs -76 -66 15.2 -75 1.7 -151 -123 23.1 GSF Insurance (4) -52 -45 15.5 -53 -2.3 -105 -81 29.1 Others (5) -24 -21 14.6 -22 11.5 -46 -41 11.3 Contribution Margin 3,653 2,873 27.2 5,984 -38.9 9,637 5,189 85.7 Resources (MWm) (6) 15,767 15,310 3.0 17,522 -10.0 16,640 16,738 -0.6 Unit Margin (R$/MWh) 106 86 23.5 158 -32.9 133 71 86.8 (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. (2) Does not consider the accounting elimination effect of charges paid to the Company's own transmission segment. (3) CCC: Conta de Consumo de Combustíveis, or Fuel Consumption Account, is responsible for management of payments made by distribution and transmission companies to subsidize the costs of generators serving Isolated Systems. (4) RHR: Repactuação do Risco Hidrológico, or Renegotiation of the Hydrological Risk (5) Others: association contributions (CCEE and ONS) and other costs. (6) Includes own resources and structural purchases, taking into account contracts with a supply duration longer than 12 months. 26
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Table 20 - Generation - adjusted contribution margin, regulatory - by contracting environment (R$ mn) 2Q26 2Q25 1Q26 Total (a)=(b)+(c) +(d)+(e) Thermal (b) Quota (c) ACR (d) ACL + MCP (e) ACL + MCP % Y/Y ACL + MCP % Q/Q Gross Revenue 7,106 0 274 1,748 5,084 4,051 25.5 7,406 -31.3 (-) Adjustment 0 0 0 0 0 0 0.0 0 0.0 Adjusted Gross Revenue 7,106 0 274 1,748 5,084 4,051 25.5 7,406 -31.3 (-) Taxes -636 0 -24 -156 -455 -407 11.7 -555 -18.0 (-) Sector Charges -364 0 -25 -87 -252 -231 8.7 -287 -12.4 (-) Energy purchased for resale (1) -1,300 0 0 0 -1,300 -1,272 2.2 -1,226 6.0 (-) Charges on use of the electricity grid (2) -1,077 0 -89 -256 -732 -595 23.0 -720 1.7 (-) Fuel for electricity production (3) 0 0 0 0 0 0 0.0 0 0.0 (-) Other Non-manageable Generation Costs -76 0 -1 -58 -17 -14 25.2 -17 1.6 GSF Insurance (4) -52 0 0 -52 0 0 0.0 0 0.0 Others (5) -24 0 -1 -6 -17 -14 25.2 -17 1.6 Contribution Margin (f) 3,653 0 134 1,190 2,329 1,531 52.2 4,601 -49.4 Own Resources (MWm) 14,479 14,820 -2.3 16,267 -11.0 (-) Quotas -1,192 -2,248 -47.0 -1,270 -6.1 (-) ACR (includes thermal plants) -3,442 -3,993 -13.8 -3,720 -7.5 (+) Structural Purchases 1,288 966 33.3 1,255 2.6 Resources (MWm) (6) 11,133 9,544 16.6 12,532 -11.2 Resources (MWh thousand) (6) (g) 24,315 20,845 16.6 27,070 -10.2 R$/MWh (f)/(g) 96 73 30.4 170 -43.6 (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. (2) Does not consider the accounting elimination effect of charges paid to the Company's own transmission segment. (3) Net of CCC: Conta de Consumo de Combustíveis, or Fuel Consumption Account, is responsible for management of payments made by distribution and transmission companies to subsidize the costs of generators serving Isolated Systems. (4) RHR: Renegotiation of Hydrological Risk (5) Others: association contributions (CCEE and ONS) and other costs. (6) Includes own resources and structural purchases, considering contracts with a supply term longer than 12 months. 27
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9.3. Transmission Segment Regulatory Margin from Transmission Net transmission revenue comprises gross revenue and its respective deductions and, for management purposes, represents the contribution margin of this segment. Gross transmission revenue is based on the Allowed Annual Revenue (RAP) and the Adjustment Portion (PA) approved by ANEEL for the current tariff cycle, 2025/2026 (from July 1, 2025, to June 30, 2026). It is worth noting that the PA of the current tariff cycle is a contractual mechanism established by the regulator to compensate for any deficit or surplus between the revenue billed and the RAP approved in the previous cycle. In addition, gross revenue includes: ▪ taxes and charges that are not part of the RAP (gross up) ▪ discounts for unavailability ▪ additional RAP related to new facilities that entered into operations after the approval ▪ pass-through items, for which transmission companies act solely as collection agents, and mismatches between approved RAP and billed revenue, both compensated in the following tariff cycle through the PA Net revenue does not include accounting eliminations relating to the intercompany portion of Transmission System Usage Charges (EUST) paid by AXIA Energia's generation companies to transmission companies within the Group. Deductions include taxes (PIS/COFINS, ICMS and ISS) and sector charges (CDE, PROINFA, TFSEE, R&D and RGR). Provision related to regulatory restitution assets and liabilities: accounting practice In 1Q26, the Company started recognizing in the transmission margin a provision for restitution assets and liabilities arising from pass-through items or tariff differences collected through revenue. These amounts do not belong to the Company, which acts solely as a collection agent and returns them through PA Measurement ( PA Apuração) in the subsequent tariff cycle, in accordance with the existing mechanism. This provision will be reversed when the compensation for these items, classified under PA Measurement or PA Other Adjustments (PA Outros Ajustes), is effectively recognized in revenue in the subsequent tariff cycle. This practice has no cash impact. Its purpose is to smooth revenue recognition across different tariff cycles, aligning it more closely with the RAP collection profile. This treatment applies only for regulatory reporting purposes, as under IFRS the collection and subsequent return of pass-through items are already reflected in the contract asset recognized on the balance sheet. Provision related to regulatory restitution assets and liabilities: recognition in 2Q26 The amount recognized in 2Q26 was R$ 40 million, consisting of: ▪ R$ 168 million related to the recognition of a provision for pass-through items collected through revenue during 2Q26 ▪ R$ 128 million related to the reversal of the provision recorded in 1Q26, equivalent to 1/4 of the amount approved for the current tariff cycle and reflecting the pass-through items collected in the 2024/25 tariff cycle and returned in the 2025/26 cycle From 2Q26 onward, provisions will reflect the pass-through items collected in each quarter and will be reversed in the subsequent tariff cycle as the corresponding deduction is recognized in revenue under PA Measurement. 28
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Net Regulatory Revenue Net regulatory transmission revenue totaled R$ 4,025 million in 2Q26, remaining stable YoY, primarily due to a reduction in negative PA in the current tariff cycle. This reduction mainly reflected the absence in 2Q26 of the negative component recognized in 2Q25 in connection with the postponement of the 2023 Periodic Tariff Review (RTP), pursuant to ANEEL Resolution No. 3,344/2024, which applied exclusively to the 2024/25 tariff cycle. It is worth noting that the RAP variation was primarily explained by: ▪ The repositioning of RBSE's financial component ▪ The review of resources linked to the 2023 RTP ▪ The addition of RAP from reinforcement and improvement projects authorized by the regulator ▪ Other effects, including mismatches between the approved RAP for facilities used exclusively by distribution companies and the amounts actually received following subsequent tariff adjustments related to those facilities, as well as changes in the RAP under bilateral transmission system connection agreements Additional details and explanations, including an analysis of transmission revenue and a breakdown of the Adjustment Portion (PA), are available in the “Modeling Support – Transmission” spreadsheet in the Results Center section of the Company's Investor Relations website. Table 21 - Transmission - adjusted contribution margin, regulatory (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % RAP (1) 4,134 4,246 -2.6 4,134 0.0 8,269 8,491 -2.6 PA (1) -117 -382 -69.5 -117 0.0 -233 -764 -69.5 Approved RAP and Adjustment Portion 4,018 3,864 4.0 4,018 0.0 8,036 7,727 4.0 Taxes and Sector Charges (2) 561 585 -4.2 574 -2.3 1,134 1,173 -3.3 Unavailability Discount (3) -65 -64 0.7 -66 -1.6 -131 -131 0.1 RAP Addition: new facilities 68 40 68.1 56 21.4 124 71 75.6 Pass-through items and mismatches between RAP and billed revenue (4) 246 270 -9.0 320 -23.3 566 477 18.6 Reimbursement asset and liability provision (5) -40 0 0.0 -725 -94.4 -766 0 0.0 Other mismatches (6) -46 65 n.m. 9 n.m. -36 140 n.m. Gross Revenue (7) 4,741 4,760 -0.4 4,186 13.3 8,927 9,457 -5.6 Tributes -454 -457 -0.7 -474 -4.2 -928 -863 7.5 Sector Charges (8) -263 -332 -20.8 -286 -8.1 -549 -670 -18.2 Net Revenue 4,025 3,972 1.3 3,426 17.5 7,451 7,924 -6.0 (1) RAP and PA: Considers 1/4 of the amounts approved for the tariff cycle in effect during the quarter, as well as proportional amounts accrued throughout the year. (2) Includes (a) PIS/COFINS and (b) CDE/Proinfa. Both are pass-through costs, collected by AXIA Energia from consumers. (3) Discount associated with Variable Portion (PV), suspension of Base Payment (PB) due to unavailability, and pending items in Release Terms (TL). (4) Items to be deducted in Adjustment Portion (PA) in the following tariff cycle, divided into two groups: (4.a) Pass-through items, for which transmission companies act solely as collection agents: (i) apportionment of prepayment and deferrals; (ii) transfers to the CDE Fund related to uncollected grid usage charges; and (iii) complementary credit notices (AVCs) associated with the termination of Transmission System Use Contracts (CUST) by generators. (4.b) Mismatches between the approved RAP and billing carried out by the ONS through AVCs, associated with: (i) Basic Border Network and other Shared Transmission Facilities (DIT); and (ii) (DIT) exclusively used by Itaipu. (5) Provision related exclusively to pass-through items for which transmission companies act solely as collection agents (item 4.a), to be deducted through the PA in the following tariff cycle. The reversal of such provisions occurs when the corresponding PA deduction is effectively recognized in the income statement in the subsequent cycle. (6) Other mismatches relative to the approved RAP for the current tariff cycle, including: (a) mismatches between Transmission and Distribution Annual Adjustments; (b) bilateral Transmission Connection Contracts (CCT), and (c) other diverse effects, each with limited individual impact. (7) Does not consider the accounting elimination effect of charges paid to the Company's own transmission segment. Eliminations refer to transactions between companies within the same group, i.e., AXIA Energia companies. These include transmission system usage charges paid by the Company’s generation companies to its transmission companies, which are received as RAP. For consolidation purposes, such amounts are eliminated from transmission revenue and generation usage costs. (8) Sector Charges includes: RGR, R&D, TFSEE, CDE, and Proinfa. 29
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Key events in the Transmission Segment During the quarter, four key events stood out in the transmission segment: ▪ Periodic Review of the 2026 RAP for Tendered Concession Agreements ▪ Annual RAP Adjustment for the 2026/27 Cycle ▪ Annual RAP Adjustment—Adjustment Portion (PA)—for the 2026/27 Cycle ▪ Transmission System Usage Charge for the 2026/27 Cycle These events relate to the determination of the RAP under transmission concession agreements for the 2026/27 cycle. Additional information is available in Appendices 4, 5, 6 and 7 at the end of this report. 9.4. Operating Costs and Expenses - IFRS Table 22 - Operating costs and expenses (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Energy purchased for resale (1) 1,300 1,327 -2.1 1,226 6.0 2,526 2,867 -11.9 Charges on use of the electricity grid 964 955 1.0 927 4.0 1,892 1,951 -3.0 Fuel for electricity production 0 222 n.m. 2 -99.5 2 782 -99.8 Construction 1,441 1,036 39.2 1,172 23.0 2,613 1,781 46.7 Personnel, Material, Services and Others 1,578 1,659 -4.9 1,465 7.8 3,043 3,337 -8.8 Depreciation and Amortization 1,233 1,131 9.0 1,253 -1.6 2,485 2,244 10.8 Operating provisions 281 133 n.m. 520 -45.9 802 260 n.m. Result from asset sale 83 105 -21.2 803 -89.7 886 105 n.m. Regulatory remeasurements 0 3,433 n.m. 0 0.0 0 4,385 n.m. Costs and expenses 6,881 10,002 -31.2 7,368 -6.6 14,249 17,712 -19.6 Non-recurring events (-) Non-recurring PMSO events -107 -228 -53.0 -23 n.m. -130 -419 -68.9 (-) Non-recurring provisions -204 43 n.m. -453 -55.0 -657 3 n.m. (-) Result from asset sale -83 -105 -21.2 -803 -89.7 -886 -105 n.m. (-) Regulatory remeasurements 0 -3,433 n.m. 0 0.0 0 -3,433 n.m. Adjusted Costs and Expenses 6,487 6,279 3.3 6,089 6.5 12,575 13,757 -8.6 (1) Energy purchased for resale includes: (a) short-term purchases under contracts with terms of less than 12 months; (b) structural purchases under contracts with terms of 12 months or more; and (c) the results of agents with negative CCEE settlement balances during the period. Intercompany purchases are excluded, as they are eliminated upon consolidation. Energy purchased for resale, charges on the use of electricity grid, fuel for electricity production, and construction costs comprise the generation and transmission margins. The explanation of the remaining lines, including PMSO (Personnel, Materials, Services, and Other), is provided below. Personnel, Material, Services and Others ▪ Personnel: adjusted balance of R$ 754 million in 2Q26, down R$ 30 million when compared to the R$ 784 million in 2Q25, with the main effects being: ◦ R$ 90 million decrease due to the higher capitalization of personnel costs, reflecting increased investment activity during the period ◦ R$ 37 million increase in variable compensation, reflecting changes implemented in late 2025 to the profit-sharing (PLR) and long-term incentive (ILP) programs to strengthen the alignment of performance and value creation with the Company’s strategic priorities ◦ R$ 25 million increase in compensation, payroll charges and benefits, mainly due to higher headcount and compensation adjustments under the newly negotiated Collective Bargaining Agreement ◦ Non-recurring effects: R$ 65 million, being: 30
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◦ R$ 57 million from severance costs ◦ R$ 8 million from VDPs ▪ Materials: adjusted balance of R$ 55 million in 2Q26, up R$ 13 million when compared to the R$ 42 million recorded in 2Q25, mainly explained by: ◦ R$ 8 million increase in expenses related to contractual adjustments and increases in fuel prices ◦ R$ 6 million increase in maintenance expenses due to a greater concentration of maintenance activities in 2Q26, compared with 2025, when such activities were concentrated in 1Q25 There were no non-recurring effects in the quarter. ▪ Services: adjusted balance of R$ 515 million in 2Q26, up R$ 74 million when compared to the R$ 441 million in 2Q25, driven by: ◦ R$ 28 million increase in expenses due to the expanded scope of operational maintenance contracts with suppliers, reflecting the addition of new safety requirements and a greater concentration of maintenance activities in 2Q26, compared with 2025, when such activities were concentrated in 1Q25 ◦ R$ 23 million increase in marketing expenses, related to rebranding ◦ R$ 10 million in higher expenses related to strengthening the cloud IT infrastructure ◦ R$ 10 million increase in real estate expenses, reflecting contractual adjustments and an increase in the scope of services provided by outsourced teams ◦ Non-recurring effects: R$ 42 million related to success fees paid to legal defense as part of the contingency reduction strategy. ▪ Other: adjusted balance of R$ 148 million in 2Q26, down R$ 17 million when compared to the R$ 164 million in 2Q25, notably: ◦ R$ 21 million reduction in judicial expenses ◦ R$19 million increase in expenses due to increased sponsorships, as a result of the rebranding There were no non-recurring effects in the quarter. For additional details on PMSO, including a breakdown by company and by nature of other costs and expenses, please refer to Appendix 2 - PMSO Breakdown. 31
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Table 23 - Detailed IFRS PMSO (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Personnel 811 899 -9.8 746 8.7 1,557 1,755 -11.3 VDP 8 98 -91.4 8 3.9 16 194 -91.5 Material 55 42 31 49.8 10.0 104.6 94 11.6 Services 556 456 22.0 434 28.2 991 894 10.8 Others 148 164 -10.3 227 -34.9 374 401 -6.7 other non-manageable generation costs 76 66 15.2 75 1.7 151 123 23.1 other manageable expenses 71 98 -27.4 152 -52.9 223 278 -19.9 PMSO (a) 1,578 1,659 -4.9 1,465 7.8 3,043 3,337 -8.8 Personnel -57 -115 -50.5 -6 n.m. -64 -169 -62.3 VDP -8 -98 -91.4 -8 3.9 -16 -194 -91.5 Material 0 0 0.0 0 0.0 0 0 0.0 Services -42 -15 n.m. -6 n.m. -47 -57 -16.9 Others 0 0 0.0 -3 n.m. -3 0 0.0 other non-manageable generation costs 0 0 0.0 0 0.0 0 0 0.0 other manageable expenses 0 0 0.0 -3 n.m. -3 0 0.0 Non recurring (b) -107 -228 -53.0 -23 n.m. -130 -419 -68.9 Personnel 754 784 -3.8 740 2.0 1,494 1,586 -5.8 VDP 0 0 0.0 0 0.0 0 0 0.0 Material 55 42 30.7 50 10.0 105 94 11.6 Services 515 441 16.8 429 20.1 943 837 12.7 Others 148 164 -10.3 223 -34.0 371 401 -7.5 other non-manageable generation costs 76 66 15.2 75 1.7 151 123 23.1 other manageable expenses 71 98 -27.4 149 -51.9 220 278 -21.0 PMSO adjusted (c) = (a) + (b) 1,471 1,431 2.8 1,441 2.1 2,912 2,918 -0.2 PMSO excluding TPP * (c.1) 1,471 1,402 4.9 1,441 2.1 2,912 2,852 2.1 manageable expenses 1,395 1,336 4.4 1,366 2.1 2,761 2,729 1.2 non-manageable costs: generation segment ** 76 66 15.2 75 1.7 151 123 23.1 Thermal Power Plants (c.2) 0 29 n.m. 0 0.0 0 66 n.m. * TPP: Thermal Power Plants. PMSO of thermal plants sold to Âmbar. ** Other operating costs, related to generation operations: GSF insurance, association contributions, and other items. 32
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Regulatory Remeasurement, Asset Disposal Result, and Other Operating Income and Expenses ▪ Regulatory Remeasurement - Transmission Contracts: There were no recognitions in this line in 2Q26. ▪ Asset disposal result: R$ 83 million expense in 2Q26, primarily related to: ◦ R$ 217 million in expenses arising from the fair value adjustment of the Company’s minority interests in transmission SPEs sold to GEBBRAS Participações Ltda on July 15, 2026 ◦ R$ 192 million gain arising from the remeasurement of the Company’s stake in Tijoá Energia, the concessionaire of the Três Irmãos HPP, following completion of the acquisition on June 2, 2026 ◦ R$ 58 million in other M&A-related expenses incurred during the period ▪ Other Revenues and Expenses: revenue of R$ 12 million in 2Q26, mainly from the reconciliation of judicial deposits Operating Provisions Table 24 - Operating provisions - IFRS (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Operating Provisions / Reversals Provision/Reversal for Litigation -192 22 n.m. -349 -45.2 -541 -86 n.m. Estimated losses on investments 41 21 92.4 10 n.m. 51 34 49.9 Measurement at fair value of assets held for sale 0 0 0.0 0 0.0 0 0 0.0 Provision for Share Conversion - Compulsory Loan -78 -20 n.m. -141 -44.6 -220 6 n.m. ECL - Loans and financing 0 -10 -99.8 0 -85.7 0 -10 -98.3 ECL - Consumers and resellers 12 -79 n.m. -7 n.m. 5 -98 n.m. ECL - Other credits -18 -26 -29.8 10 n.m. -8 -33 -76.9 Onerous contracts 28 30 -3.6 28 0.0 57 59 -2.8 Results of actuarial reports -82 -92 -10.8 -82 0.0 -163 -185 -11.6 Other (1) 7 20 -64.6 11 -35.0 18 53 -66.8 Operating Provisions / Reversals -281 -133 n.m. -520 -45.9 -802 -260 n.m. Non-recurring items / Adjustments 204 -43 n.m. 453 -55.0 657 -3 n.m. Provision for Litigation 192 -22 n.m. 349 -45.2 541 86 n.m. Estimated losses on investments -41 -21 92.4 -10 n.m. -51 -34 49.9 Provision for Share Conversion - Compulsory Loan 78 20 n.m. 141 -44.6 220 -6 n.m. Onerous contracts -28 -30 -3.6 -28 0.0 -57 -59 -2.8 Impairment 4 0 0.0 0 0.0 4 0 0.0 Adjusted Provisions/Reversals -78 -177 -56.1 -68 14.6 -145 -262 -44.7 Positive values in the table above indicate reversal of provision. (1) Primarily includes impairment and RGR refunds. ▪ Provision for litigation: provision of R$ 192 million in 2Q26 compared to a reversal of R$ 22 million in 2Q25. The R$ 214 million variation was explained by: ◦ Compulsory Loan: Contributed a net reversal of R$ 98 million in 2Q26, compared to the net reversal of R$ 246 million in 2Q25, reflecting the lower average ticket of cases settled through legal agreements. It is worth noting that, unlike other provisions, the monetary restatement related to the compulsory loan provision is recognized under financial results. ◦ Other events, unrelated to compulsory loan proceedings, contributing to results as follows: • Changes in provision balances: provision of R$ 69 million in 2Q26, in line with 2Q25 • Monetary restatement: R$ 221 million expense in 2Q26 compared to R$ 51 million in 2Q25, mainly due to updates to inflation adjustment indices. ▪ Share conversion process – Compulsory Loan: R$ 78 million provision in 2Q26, compared to a R$ 20 million provision in 2Q25. This result reflects the impact from the conversion of Class B preferred shares into common shares upon the migration to B3's Novo Mercado, together with the mark-to-market effect based on the LTM average price of those shares. 33
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▪ Expected Credit Losses (ECL) - Consumers and Resellers: reversal of R$ 12 million in 2Q26, compared to a provision of R$ 79 million in 2Q25 due to the recognition, in 2Q25, of R$ 81 million related to Amazonas Energia, without a corresponding entry in 2Q26. 9.5. Equity Holdings - IFRS The main highlights of equity income were as follows: ▪ Transnorte Energia (TNE) : The improvement in 2Q26 reflects the negative impact recorded in 2Q25 following the revision of CAPEX used to calculate the return on contract assets ▪ Eletronuclear: No income was recognized in 2Q26 as the asset was classified as held-for-sale in 3Q25 ▪ ISA Energia: The improvement in 2Q26 reflects the negative impact recorded in 2Q25 from the regulatory remeasurement arising from lower cash flows associated with the financial component of the RBSE under the transmission concession agreement extended pursuant to Law No. 12,783/2013 ▪ Equatorial Maranhão: Variation resulting from the recognition of equity income from 2Q25 and 3Q25 ▪ IE Madeira: No income was recognized in 2Q26 as the asset was classified as held-for-sale Table 25 - Equity holdings (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Highlights Affiliates (a) 284 -45 n.m. 319 -11.0 603 412 46.3 Equatorial Maranhão 90 0 n.m. 139 -35.3 228 228 0.0 ISA Energia 141 25 472.0 132 7.1 273 159 71.2 Eletronuclear (1) 0 -147 n.m. 0 0.0 0 -84 n.m. Other Affiliates 53 78 -31.4 49 9.4 102 108 -6.1 Highlights SPEs (b) (2) 64 -148 n.m. 237 -73.1 301 -101 n.m. Central Eólica 0 0 0.0 67 n.m. 67 0 0.0 IE Madeira 0 31 n.m. 66 n.m. 66 115 -43.0 Belo Monte Transmissora de Energia S.A. - BMTE 55 27 105.1 66 -16.1 121 83 46.6 Chapecoense 47 55 -15.7 54 -14.2 101 98 2.9 ESBR Jirau 43 22 98.4 53 -17.8 96 61 57.3 Transnorte Energia (TNE) 55 -128 n.m. 46 19.5 100 -77 n.m. IE Garanhuns 22 23 -4.7 19 19.8 41 38 7.5 Norte Energia -158 -179 -11.5 -133 19.2 -291 -419 -30.5 Other Holdings (c) (3) 25 67 -62.0 108 -76.6 134 111 20.6 Total Equity Holdings (a) + (b) + (c) 373 -126 n.m. 664 -43.9 1,037 422 145.6 Non-recurring events (-) Regulatory remeasurements, ISA Energia 0 116 n.m. 0 0.0 0 116 n.m. Adjusted Equity Holding 373 -10 n.m. 664 -43.9 1,037 539 92.6 (1) 1Q26 income was not recognized following the signing of the agreement for the sale of the company’s stake. (2) SPE: special purpose entities. (3) Includes movements in the balance sheet value of affiliates measured at fair value/cost. 34
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9.6. Financial Result - IFRS Table 26 - Financial result (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Financial Income 961 1,069 -10.0 1,170 -17.8 2,131 2,142 -0.5 Interest income, fines, commissions and fees -2 -13 -82.0 0 n.m. -2 23 n.m. Income from financial investments 995 1,101 -9.7 1,056 -5.8 2,051 2,159 -5.0 Late payment surcharge on electricity 69 36 93.2 27 n.m. 96 68 41.4 Other financial income -36 24 n.m. 159 n.m. 123 53 n.m. (-) Taxes on financial income -64 -79 -19.1 -73 -11.6 -137 -162 -15.4 Financial Expenses -2,298 -2,380 -3.4 -2,276 1.0 -4,573 -4,844 -5.6 Debt Charges (1) -1,452 -1,528 -5.0 -1,403 3.5 -2,855 -3,168 -9.9 Loans, financing and suppliers -1,441 -1,459 -1.2 -1,396 3.2 -2,837 -2,962 -4.2 Leasing -11 -70 -83.9 -7 57.7 -18 -206 -91.1 CDE obligation charges (2) -694 -661 4.9 -701 -1.0 -1,395 -1,323 5.4 River basin revitalization charges (2) -72 -79 -8.1 -74 -2.9 -146 -157 -6.9 Financial discount for early payment - ENBpar 0 0 0.0 0 0.0 0 0 0.0 Other financial expenses -80 -111 -28.6 -97 -18.4 -177 -195 -9.5 Net Financial Items -2,188 -1,244 75.9 -2,021 8.2 -4,209 -3,347 25.7 Monetary changes -343 -264 30.1 -311 10.4 -654 -548 19.2 Compulsory Loan -151 -178 -14.9 -148 2.5 -299 -353 -15.3 Others -192 -86 n.m. -163 17.6 -355 -196 81.3 Exchange rate variations 2 -12 n.m. 17 -85.3 19 -7 n.m. Change in fair value of hedged debt net of derivative (1) -1,105 -587 88.3 -973 13.6 -2,079 -1,554 33.8 Monetary updates - CDE (2) -650 -316 n.m. -666 -2.4 -1,316 -1,048 25.5 Monetary updates - river basins (2) -91 -52 75.7 -88 4.2 -179 -165 8.2 Change in derivative financial instrument not linked to debt protection 0 -14 n.m. 0 0.0 0 -24 n.m. Financial Results -3,524 -2,555 37.9 -3,127 12.7 -6,651 -6,049 10.0 Adjustments Monetary restatement - Compulsory Loan 151 178 -14.9 148 2.5 299 353 -15.3 Adjusted Financial Result -3,373 -2,377 41.9 -3,079 9.5 -6,452 -5,696 13.3 (1) To properly assess interest expense on total debt, including hedge results contracted to protect part of the debt, the analysis must consider both line items: "debt charges" and "change in fair value of hedged debt, net of derivative." The first reflects interest on the unhedged portion of debt, while the second reflects not only interest on the hedged portion of debt but also fair value changes of the associated hedging instruments. (2) These obligations were established by Law 14,182/21 (Privatization of Eletrobras, now AXIA Energia) as a condition for obtaining new concession grants for power generation for an additional 30 years. The charges were calculated based on data published in CNPE Resolution 015/2021, considering (a) the present value of the obligation; (b) the future payment flow; and (c) the payment term. The main variations this quarter were: ▪ Financial Income: R$ 961 million in 2Q26 compared to R$ 1,069 million in 2Q25, down 10%, due to decreases in average cash balances and the CDI rate during the period ▪ Interest expense on debt and change in fair value of hedge: resulting, respectively, from the following expenses: ◦ R$ 1,452 million from debt charges ◦ R$ 1,105 million from the change in fair value of hedged debt, net of derivatives These lines totaled R$ 2,558 million in 2Q26 compared to R$ 2,116 million in 2Q25. This 21% increase was mainly driven by: • Increase in the outstanding debt balance 35
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• Impact of CDI indexation • Adjustment to the carrying amount of the Bonds It is also worth noting the reduction in leasing charges stemming from the sale of TPPs during the period. ▪ Monetary restatement: R$ 343 million expense in 2Q26, up 30% from R$ 264 million in 2Q25. This line comprises two main components: ◦ Monetary restatement excluding amounts related to compulsory loan proceedings: R$ 192 million expense in 2Q26 compared to the R$ 86 million expense in 2Q25, mainly due to higher inflation adjustments on debt, reflecting the increase in the Brazilian CPI (IPCA) from 0.93% in 2Q25 to 1.42% in 2Q26 ◦ Monetary restatement related to compulsory loans proceedings: R$ 151 million expense in 2Q26, down from R$ 178 million in 2Q25, reflecting the reduction in provision inventory 9.7. Current and Deferred Taxes - IFRS Recurring expenses for income tax and social contribution improved R$ 79 million, down from R$ 173 million in 2Q25 to R$ 94 million in 2Q26. This change was explained by lower deferred tax recognition, partially offset by lower current tax payments. The latter mainly reflected a lower taxable base at AXIA Energia Norte, following the write-off of the ECL provision on the assignment of Amazonas Energia credits in the quarter. Non-recurring effects: -R$ 116 million, related to the tax on non-recurring items adjusted on EBT. Table 27 - Income tax and social contribution (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Current income tax and social contribution 104 -254 n.m. -561 n.m. -458 -333 37.5 Deferred income tax and social contribution -82 1,356 n.m. 123 n.m. 42 1,370 -97.0 Income tax and social contribution total 22 1,102 -98.0 -438 n.m. -416 1,037 n.m. Adjustments Constitution/Reversal of Deferred Tax on Tax Loss 0 0 0.0 0 0 0 0 0 Deferred Tax Adjustment on Provision Reversal 0 0 0.00 0 0.00 0 0 0.00 Tax on non-recurrent items adjusted on EBT -116 0 0.00 -63 83.89 -179 0 0.00 Adjusted income tax and social contribution -94 -173 -45.8 -501 -81.3 -595 -238 n.m. Adjusted Current income tax and social contribution -12 -254 -95.19 -624 -98.05 -637 -333 91.25 Adjusted Deferred income tax and social contribution -82 80 n.m. 123 n.m. 42 95 -56.1 (1) In 2Q25, the amount of R$ 882 million was recognized in connection with the Regulatory Remeasurement, due to changes in the payment schedule of the RBSE financial component for contracts extended under Law 12,783/2013, for the 2025-26, 2026-27 and 2027-28 cycles, as approved by ANEEL's Board at its 20th Ordinary Public Meeting on June 10, 2025. In 4Q24, the amount of R$ 758 million refers to the regulatory remeasurement of AXIA Energia's contractual assets carried out in 3Q24. Although the remeasurement was recognized in that period, the corresponding deferred tax expense was recorded in 4Q24. On that occasion, the expense was reallocated to 3Q24, in line with its recurring nature in fiscal year 2024, consistent with the treatment given to the taxable event and the expenses of the other subsidiaries recognized in 3Q24 . (2) The R$396 million recorded in 2Q25 stems from the revision of AXIA Energia Norte's deferred tax assets and liabilities, following the adoption of a new corporate income tax (IRPJ) rate of 6.25%. This lower rate applied following the divestment of its thermal power plants in May 2025, after which the company began operating exclusively with incentivized assets. 36
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10. OPERATIONAL PERFORMANCE 10.1. Generation Segment Generation Assets The Company had 81 power plants, including 47 hydroelectric, 33 wind, and 1 solar at the end of 2Q26, considering corporate ventures, shared ownership and stakes via SPEs. Portfolio installed capacity reached 44,430 MW in 2Q26, with 100% generated from clean sources with low greenhouse gas emissions, representing 17% of Brazil's total installed capacity. Table 28 - Generation assets Source Installed Capacity (MW) Assured Capacity (aMW) Accumulated Generated Energy (GWh) Hydro (47 plants) 43,537 21,208 84,626 Wind Power (33 plants) 892 340 797 Solar (1 plant) 0.93 0.13 0.56 Total (81 plants) 44,430 21,548 85,424 Total energy generated by AXIA Energia fell by 6.2% YoY in 2Q26. Chart 5 - AXIA Energia - net energy generation (GWh) 363 483 37,819 38,666 0 407 40,651 41,058 2Q25 (GWh) 2Q26 (GWh) Thermal Wind & Solar Hydro Total System Data – Installed Capacity and Generation Brazil's installed capacity was 268,744.56 MW in 2Q26. Chart 6 - Brazil’s installed capacity - by source 41% 18% 13% 8% 1% 19% Hydro Thermal Wind Solar Nuclear Distributed Generation Source: ANEEL's Generation Information System (SIGA) 37
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Chart 7 - Generated energy SIN - National Interconnected System (GWh) Wind Hydraulics Nuclear Solar Thermal 01/26 02/26 03/26 04/26 05/26 06/26 0 100 200 300 400 500 600 700 0 500 1,000 1,500 2,000 Source: Operating Results 01/01 to 06/30/2026 from the National Operator of the Electric System (ONS) System Data – Energy Market Table 29 - PLD 2Q26 2Q25 ∆% 1Q26 ∆% Market GSF (%) 99.16 95.64 3.5 p.p. 91.53 7.6 p.p. PLD SE (R$/MWh) 206.57 216.45 -4.6 308.14 -33.0 PLD S (R$/MWh) 230.82 224.26 2.9 357.96 -35.5 PLD NE (R$/MWh) 163.50 154.07 6.1 286.79 -43.0 PLD N (R$/MWh) 165.18 154.59 6.8 287.31 -42.5 Chart 8 - GSF (%) Month 2021 2022 2023 2024 2025 2026 June 70% 83% 80% 89% 88% 95% 95% 2021 2022 2023 2024 2025 2026 jan feb mar apr may jun jul aug sep oct nov dec 25% 50% 75% 100% 125% 38
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Chart 9 - Historical average of affluent natural energy (ENA) - SIN (%) ENA conditions deteriorated in 2Q26, ending the quarter at 81% of SIN’s long-term average. 86 59 96 65 66 92 67 90 81 Min and Max (2020-2024) Actual 06/2308/2310/2312/2302/2404/2406/2408/2410/2412/2402/2504/2506/2508/2510/2512/2502/2604/2606/26 0 20 40 60 80 100 120 140 160 180 Chart 10 - Energy stored in reservoirs (EAR) - SIN (%) The SIN ended 2Q26 with stored energy at 71%, representing a sequential improvement. 87 68 75 44 71 56 45 68 71 Min and Max (2020-2024) Actual 06/2308/2310/2312/2302/2404/2406/2408/2410/2412/2402/2504/2506/2508/2510/2512/2502/2604/2606/26 0 20 40 60 80 100 39
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10.2. Transmission Segment The Company ended 2Q26 with 74.8 thousand km of transmission lines, compared to 73.8 thousand km in 2Q25, as well as 420 substations, of which 301 were Company-owned and 119 were operated by third parties. Table 30 - Transmission lines (km) Company Own(1) In Partnership (2) Total AXIA Energia Nordeste 22,251 1,831 24,083 AXIA Energia Norte 10,988 2,013 13,001 AXIA Energia Sul 12,182 5 12,187 AXIA Energia Holding 22,129 3,429 25,558 Total 67,550 7,278 74,829 (1) Includes TMT (100%) and VSB (100%). (2) Partnerships consider extensions proportional to the capital invested by AXIA Energia Companies in the venture. 10.3. ESG Table 31 - ESG KPIs 2Q26 Pillar KPI 2Q26 2Q25 Change Planet Accumulated GHG Emissions for the year (1) 242,709 885,107 -73% (Scopes 1, 2 and 3) (tCO2e) People Accident Frequency Rate - own Employees (with time off) 0.75 0.48 56% Women in the Workforce (%) 21% 20% 1 p.p. Leadership positions held by women (%) 25% 25% 0 p.p. Governance Complaints answered on time (%) 92.0% 100.0% -8 p.p. The values presented are preliminary and unaudited, and may be adjusted based on data collection, verification and updating processes. (1) The reduction in emissions is primarily due to the removal of coal-fired thermoelectric generation from the Company’s energy matrix. 40
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11. APPENDIX 11.1. Appendix 1 - Generation and Transmission Revenue IFRS Generation revenue comprises: ▪ Revenue from supply to non-end consumers — distributors, traders, and generators — under contracts in the Regulated Contracting Environment (ACR) and the Free Contracting Environment (ACL) ▪ Revenue from supply to end consumers — industrial and commercial clients — under contracts exclusively in the ACL ▪ Revenue from the CCEE, through settlements in the Short Term Market (MCP) ▪ Revenue from operation and maintenance (O&M), representing remuneration for energy sold under the quota regime Table 32 - Generation operating revenue (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Power supply to non-end consumers 3,609 4,374 -17.5 3,788 -4.7 7,397 9,717 -23.9 Power supply to end consumers 904 433 n.m. 755 19.7 1,658 928 78.8 CCEE 2,311 1,534 50.6 4,611 -49.9 6,922 2,146 n.m. O&M revenue 283 509 -44.5 274 3.2 557 1,029 -45.9 Generation Revenues 7,106 6,851 3.7 9,428 -24.6 16,533 13,819 19.6 Non-recurring items - Adjustments 0 109 n.m. 0 0.0 0 109 n.m. Adjusted Generation Revenue 7,106 6,960 2.1 9,428 -24.6 16,533 13,928 18.7 Transmission revenue comprises: ▪ Operation and maintenance (O&M) revenue, related to asset operation and maintenance ▪ Construction revenue, linked to investments made (appropriated and allocated) in ongoing projects ▪ Contractual (financial) revenue, associated with the application of inflation indices to the asset balances of each concession contract Table 33 - Transmission operating revenue (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % Revenue from Operation & Maintenance (O&M) 1,876 2,065 -9.2 1,995 -6.0 3,871 4,081 -5.1 Construction Revenue 1,377 1,063 29.6 1,135 21.3 2,513 1,809 38.9 Contractual Revenue - Transmission 2,403 1,951 23.2 1,884 27.5 4,287 4,374 -2.0 Transmission Revenues 5,657 5,079 11.4 5,015 12.8 10,671 10,264 4.0 Non-recurring items - Adjustments 0 0 0.0 0 0.0 0 0 0.0 Adjusted Transmission Revenue 5,657 5,079 11.4 5,015 12.8 10,671 10,264 4.0 41
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11.2. Appendix 2 - PMSO Breakdown Table 34 - PMSO 2Q26 (R$ mn) PMSO 2Q26 (R$ million) AXIA Energia Holding AXIA Energia Nordeste AXIA Energia Norte AXIA Energia Sul Total Elimination Consolidated IFRS Personnel 365 208 163 76 811 0 811 Voluntary Dismissal Plan (PDV) - Provision 6 0 2 0 8 0 8 Material 20 8 21 5 55 0 55 Services 300 111 100 46 556 0 556 Other 110 11 36 3 160 -12 148 PMSO 801 337 321 131 1,591 -12 1,578 Non-recurring events Personnel: VDP -6 0 -2 0 -8 0 -8 Personnel: Termination Costs -15 -16 -20 -6 -57 0 -57 Services: Success fee related to legal consulting -34 -4 -3 -1 -42 0 -42 Adjusted PMSO 747 317 296 123 1,483 -12 1,471 Table 35 - PMSO 2Q25 (R$ mn) PMSO 2Q25 (R$ million) AXIA Energia Holding AXIA Energia Nordeste AXIA Energia Norte AXIA Energia Sul Total Elimination Consolidated IFRS Personnel 352 220 192 85 848 51 899 Voluntary Dismissal Plan (PDV) - Provision 76 4 15 3 98 0 98 Material 12 8 16 2 37 5 42 Services 181 95 101 35 412 44 456 Other 33 27 70 6 137 28 164 PMSO 653 353 394 131 1,531 128 1,659 Non-recurring events Personnel: PDV, PDC -76 -4 -15 -3 -98 0 -98 Personnel: Termination Costs -63 -21 -23 -9 -115 0 -115 Services: Success fee related to legal consulting -11 -2 -2 0 -15 0 -15 Adjusted PMSO 503 326 354 119 1,303 128 1,431 42
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Table 36 - Other costs and expenses (R$ mn) 2Q26 2Q25 % 1Q26 % 6M26 6M25 % GSF 52 17 n.m. 53 -2.0 105 33 n.m. Convictions, losses and legal costs -3 5 n.m. 49 n.m. 45 76 -40.3 Taxes 37 17 n.m. 38 -1.7 75 62 21.5 Insurance 28 24 17.2 32 -12.3 61 47 29.0 Rent 2 19 -87.4 26 -90.8 28 41 -32.7 Donations and contributions 7 29 -75.4 9 -19.2 16 50 -68.3 Equity Holding 0 18 n.m. 0 0.0 0 28 n.m. Recovery of expenses -15 -12 19.6 -8 92.4 -22 -24 -9.1 Others 39 48 -19.2 28 38.9 67 88 -24.3 Total 148 164 -10.3 227 -34.9 374 401 -6.7 11.3. Appendix 3 - Financing and Loans Granted (Receivables) Chart 11 - Receivables (R$ million) 0.0 0.0 0.0 0.0 0.0 0.02.3 0.3 0.3 0.3 209.7 212.8 Parent Company Consolidated 2026 2027 2028 2029 After 2029 TOTAL Does not include ECL of R$ 14.5 million and current liabilities of R$ 0.5 million. The figures presented already reflect the assignment of all receivables due from Amazonas Energia S.A., as disclosed in the Material Fact published on June 10, 2026. 43
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11.4. Appendix 4 - Periodic Review of the 2026 RAP for Tendered Concession Agreements ANEEL Ruling No. 2,163/2026, published on June 17, 2026, set the outcome of the Periodic Tariff Review (RTP) for the Transmission Concession Agreements included in the 2026 review cycle, establishing the resulting Allowed Annual Revenue (RAP). The review followed Call for Contributions ( Tomada de Subsídios ) No. 006/2026. Fourteen tendered concession contracts held by AXIA Energia had their RAP revised in 2026. The RAP review resulted in a positive repositioning index 1 of 6.4%, equivalent to a RAP increase of R$ 20.9 million for the AXIA Energia companies. Excluding accumulated inflation for the period, the repositioning index was a positive 2.3%, equivalent to a RAP increase of R$ 7.8 million. The main impact came from the Reinforcements and Improvements (R&I) RAP, which rose by R$ 23.4 million, with 98.5% related to large-scale works with pre-authorized revenue. Conversely, the repositioning of the Auction Bid RAP (RAP Ofertada do Leilão ) had a negative impact of R$ 2.5 million, driven by the lower cost of debt (Kd). It is worth noting that the outcome includes Other Revenues captured by the regulator for tariff affordability purposes, with a negative impact of R$ 116 million on RAP. In addition, the review set a total Adjustment Portion (PA) of R$ 3.0 million, at June 2026 price levels, broken down as: ▪ PA Retroactive, with a positive value of R$ 3.4 million, to be received in the next five tariff cycles ▪ PA Other Adjustments, with a negative value of R$ 488,000, to be returned by the transmission companies in the 2026/2027 cycle The tables below break down the 2026 RTP results for the AXIA Energia companies, by concessionaire and by concession contract. Table 37 - Total RAP: Results by concession contract (R$ million) AXIA Energia Company Concession Contract Current RAP (Reference jun/25) (1) Reviewed RAP (Reference jun/26) (2) Impact (1) - (2) Revenue Repositioning Index (IRR) AXIA Energia Nordeste 004/2010 54.3 56.8 2.5 4.7 AXIA Energia Nordeste 007/2010 16.9 16.9 -0.1 -0.4 AXIA Energia Nordeste 013/2010 16.5 16.9 0.4 2.4 AXIA Energia Nordeste 014/2010 9.6 10.8 1.2 12.2 AXIA Energia Nordeste 019/2010 33.6 36.0 2.4 7.0 AXIA Energia Nordeste 020/2010 14.7 16.8 2.1 14.0 AXIA Energia Nordeste 021/2010 12.0 12.2 0.2 1.6 AXIA Energia Holding 006/2010 12.8 12.7 -0.1 -0.4 AXIA Energia Norte 009/2010 8.4 8.4 0.0 -0.3 AXIA Energia Norte 004/2011 10.0 10.5 0.5 4.7 AXIA Energia Sul 010/2005 85.5 93.6 8.1 9.4 AXIA Energia Sul 011/2010 31.7 33.1 1.4 4.4 AXIA Energia Sul 012/2010 5.9 5.8 -0.1 -0.9 AXIA Energia Sul 002/2011 15.3 17.7 2.4 16.0 Total 327.3 348.2 20.9 6.4 1 In Brazilian Portuguese, the revenue repositioning index is Índice de Reposicionamento da Receita, which ANEEL abbreviates as IRR.
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Table 38 - Auctioned RAP: Results by concession contract (R$ million) AXIA Energia Company Concession Contract Current RAP (Reference jun/25) (1) Reviewed RAP (Reference jun/26) (2) Impact (1) - (2) Revenue Repositioning Index (IRR) AXIA Energia Nordeste 004/2010 49.7 49.5 -0.2 -0.4 AXIA Energia Nordeste 007/2010 16.9 16.9 -0.1 -0.4 AXIA Energia Nordeste 013/2010 12.5 12.2 -0.3 -2.5 AXIA Energia Nordeste 014/2010 2.3 2.2 -0.1 -2.6 AXIA Energia Nordeste 019/2010 24.4 23.8 -0.5 -2.1 AXIA Energia Nordeste 020/2010 9.9 9.7 -0.2 -1.7 AXIA Energia Nordeste 021/2010 11.2 11.0 -0.2 -1.6 AXIA Energia Holding 006/2010 12.8 12.7 -0.1 -0.4 AXIA Energia Norte 009/2010 8.4 8.4 0.0 -0.3 AXIA Energia Norte 004/2011 4.4 4.3 -0.1 -2.8 AXIA Energia Sul 011/2010 19.6 19.1 -0.5 -2.6 AXIA Energia Sul 012/2010 5.3 5.2 -0.1 -2.5 AXIA Energia Sul 002/2011 4.3 4.2 -0.1 -2.8 Total 181.7 179.3 -2 -1.4 Table 39 - Reinforcement and Improvement RAP: Results by concession contract (R$ million) AXIA Energia Company Concession Contract Current RAP (Reference jun/25) (1) Reviewed RAP (Reference jun/26) (2) Impact (1) - (2) Revenue Repositioning Index (IRR) AXIA Energia Nordeste 004/2010 4.6 7.3 2.7 60.4 AXIA Energia Nordeste 013/2010 3.9 4.7 0.7 18.0 AXIA Energia Nordeste 014/2010 7.4 8.6 1.2 16.9 AXIA Energia Nordeste 019/2010 9.3 12.2 2.9 31.2 AXIA Energia Nordeste 020/2010 4.8 7.1 2.2 46.2 AXIA Energia Nordeste 021/2010 0.8 1.2 0.4 43.5 AXIA Energia Norte 004/2011 5.6 6.2 0.6 10.6 AXIA Energia Sul 010/2005 85.5 93.6 8.1 9.4 AXIA Energia Sul 011/2010 12.1 14.0 1.9 15.7 AXIA Energia Sul 012/2010 0.6 0.7 0.1 13.2 AXIA Energia Sul 002/2011 11.0 13.5 2.6 23.3 Total 145.6 168.9 23 16.1
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Table 40 - Total PA: Results by concession contract (R$ thousand) AXIA Energia Company Concession Contract PA Retroactive (Reference jun/26) (1) PA Other Adjustments (Reference jun/26) (2) Total PA (Reference jun/26) (1) + (2) AXIA Energia Nordeste 004/2010 1,263.9 1.3 1,265.2 AXIA Energia Nordeste 007/2010 0.0 -0.1 -0.1 AXIA Energia Nordeste 013/2010 45.3 -3.8 41.5 AXIA Energia Nordeste 014/2010 0.0 -0.7 -0.7 AXIA Energia Nordeste 019/2010 198.6 -456.6 -258.0 AXIA Energia Nordeste 020/2010 -28.3 -2.7 -31.0 AXIA Energia Nordeste 021/2010 372.5 -2.8 369.7 AXIA Energia Holding 006/2010 0.0 0.0 0.0 AXIA Energia Norte 009/2010 0.0 0.0 0.0 AXIA Energia Norte 004/2011 260.9 -1.3 259.6 AXIA Energia Sul 010/2005 46.9 -13.1 33.8 AXIA Energia Sul 011/2010 78.6 -5.8 72.8 AXIA Energia Sul 012/2010 46.9 -1.7 45.3 AXIA Energia Sul 002/2011 1,161.2 -1.4 1,159.8 Total 3,446.6 -488.8 2,957.8 11.5. Appendix 5 - RAP Annual Adjustment, 2026/2027 Cycle ANEEL Ruling No. 2,268/2026, published on June 24, 2026, set the RAP Annual Adjustment for the transmission concession contracts, applicable to the 2026/2027 tariff cycle. The annual adjustment resulted in a 6.7% increase in approved RAP compared with the previous 2025/2026 cycle. This increase was primarily driven by monetary restatement based on the IPCA and IGP-M inflation indices, as well as additional RAP from projects that entered commercial operation during the cycle, including recently auctioned concessions and reinforcement and improvement projects. On a combined RAP and PA basis, the increase was 8.7% compared with the amounts approved for the 2025/2026 cycle. Table 41 - Approved RAP and PA, Annual Adjustement, 2026-2027 cycle (R$ million) AXIA Energia Company RAP + PA, Cycle 25/26 (Reference jun/25) RAP + PA, Cycle 26/27 (Reference jun/26) Change (R$ million) Change (%) AXIA Energia Holding 6,709 7,178 470 7.0 AXIA Energia Nordeste 4,387 5,039 652 14.9 AXIA Energia Norte 3,060 3,196 136 4.4 AXIA Energia Sul 1,808 1,927 118 6.5 NERA Caladinho 0 15 15 0.0 TMT 56 59 3 4.7 VSB 51 54 3 5.4 Total 16,071 17,467 1,396 8.7
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Table 42 - Approved RAP, Annual Adjustement, 2026-2027 cycle (R$ million) AXIA Energia Company RAP Cycle 25/26 (Reference jun/25) RAP Cycle 26/27 (Reference jun/26) Change (R$ million) Change (%) AXIA Energia Holding 6,778 7,310 532 7.9 AXIA Energia Nordeste 4,845 5,097 251 5.2 AXIA Energia Norte 2,970 3,139 169 5.7 AXIA Energia Sul 1,834 1,961 127 6.9 NERA Caladinho 0 15 15 0.0 TMT 58 60 3 4.7 VSB 53 56 3 4.7 Total 16,538 17,638 1,100 6.7 Table 43 - Approved PA, Annual Adjustement, 2026-2027 cycle (R$ million) AXIA Energia Company PA Cycle 25/26 (Reference jun/25) PA Cycle 26/27 (Reference jun/26) Change (R$ million) Change (%) AXIA Energia Holding -69 -132 -63 90.4 AXIA Energia Nordeste -458 -57 401 -87.5 AXIA Energia Norte 90 57 -33 -36.5 AXIA Energia Sul -25 -35 -9 35.9 NERA Caladinho 0 -1 -1 0.0 TMT -1 -2 0 7.4 VSB -2 -2 0 -12.7 Total -467 -171 296 -63.4 Chart 12 - Annual Readjustment of transmission revenue, RAP and PA, 2026/2027 cycle 16,538 -467 16,071 17,638 -171 17,467 RAP Cycle 25/26 PA Cycle 25/26 RAP + PA Cycle 25/26 RAP Cycle 26/27 PA Cycle 26/27 RAP + PA Cycle 26/27
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Chart 13 - Annual Readjustment of transmission revenue, 2026/2027 cycle ▪ IPCA/IGP-M: monetary restatement for the 2026/2027 cycle based on the IPCA of 4.72% for extended concession contracts and most tendered ones, or the IGP-M of 1.92% for certain tendered contracts. ▪ New Auction Projects: Additional RAP associated with the Nova Era Caladinho auctioned project, for which the ONS issued a Revenue Release Term (TLR) during the 2025/2026 cycle. ▪ New R&I Projects: Additional RAP associated with reinforcement and improvement projects that entered commercial operation during the 2025/2026 cycle. ▪ RTP 2026 Tendered (real gains): Result of the RTP 2026 tendered concession contracts (as per Appendix 4 - Periodic Review of the 2026 RAP for Tendered Concession Agreements). ▪ O&M Transferred Facilities: Additional RAP relating to the O&M of transmission facilities transferred during the 2025-2026 cycle. ▪ PIS and COFINS Removal: Effects of ANEEL Ruling No. 1,787/2026 associated with the removal of PIS and COFINS taxes from RAP for some contracts, due to the Tax Reform. ▪ Deactivated RAP: Reduction in RAP related to the deactivation of transmission facilities that occurred during the 2025-2026 cycle. ▪ AO&M Trajectory: Reduction of AO&M RAP (PRT 579/2012) due to the Efficient Operational Cost Trajectory, defined within the scope of RTP 2023 for extended concession contracts, which will be in effect until the 2027-2028 cycle. ▪ "Step Down Profile" of Tendered Contracts: Reduction of RAP due to the "step down profile" of tendered contracts that foresee a reduction in RAP starting from the 16th year of commercial operation. ▪ PA: as detailed in Table 43 - Approved PA, Annual Adjustment, Cycle 2026/2027 (R$ million). In addition, projects scheduled to enter commercial operation by June 2027, ahead of the next tariff cycle, are expected to add R$ 757 million to AXIA Energia's RAP at June 2026 prices, of which R$ 263 million relates to auction projects and R$ 493 million to authorized large-scale reinforcement and improvement projects. 16,538 765 15 410 8 10 -41 -34 -32 -1 17,638 -171 17,467 RAP Cycle 25/26 IPCA/ IGP-M New Auction Projects New R&I Projects RTP 2026 Tendered (real gains) O&M Transferred Facilities PIS/ COFINS Removal Deactivated RAP AO&M Trajectory "Step- down profile" of tendered contracts RAP Cycle 26/27 PA Cycle 26/27 RAP + PA Cycle 26/27
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11.6. Appendix 6 - RAP Annual Adjustment - Adjustment Portion (PA), 2026/2027 Cycle The Adjustment Portion (PA) of the current tariff cycle is a contractual mechanism established by the regulator to compensate for any deficit or surplus between the revenue billed and the RAP approved in the previous cycle. The resulting balance is offset in 12 equal monthly installments during the current cycle, and may be positive or negative depending on each contract's balance. The PA established for the 2026/2027 cycle is broken down as follows: Table 44 - Approved PA breakdown - Annual Adjusment, 2026-2027 cycle (R$ million) PA Category 2025/2026 Cycle (Reference jun/25) 2026/2027 Cycle (Reference jun/26) PA Measurement -980 -684 PA Review - CC Extended 391 391 PA Review - CC Tendered 17 16 PA Financial Improvements 136 143 PA Authorizations without previous RAP 6 3 PA Other Adjustments -18 -39 PA DIT Quality -1 0 Total -449 -171 The table below summarizes the key amounts established:
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Table 45 - Main values from the Approved PA breakdown - Annual Adjusment, 2026-2027 cycle (R$ million) PA Category Description 2026/2027 Cycle (jun/26 base) PA Measurement It includes mainly (a) refund of amounts collected through credit notices (AVCs) related to Prepayment Apportionment, (b) refund of amounts collected related to sector charges to CDE Fund , and (c) adjustments arising from the tariff mismatch in revenues from the Basic Border Network and Other Transmission Facilities. -684 PA Review PA related to the retroactive effects of the RAP Reviewed for authorized Reinforcements and Improvements (R&I), covering both Extended and Tendered contracts. For Extented contracts, the PA will be offset in equal installments through the subsequent review in July 2028, whereas for Tendered contracts it will be offset over the tariff review cycle (four or five years, depending on the concession). 407 PA Financial Improvements PA associated with the annuity for investments in small-scale improvements for the Extended concession contracts, as defined in the 2023 Tariff Review (RTP 2023). The PA is valid through the July 2028 review. 143 PA Authorization without previous RAP PA related to the RAP's retroactive amounts for Small-Scale Reinforcements without pre-authorized revenue, with revenue defined within the scope of the RAP Annual Adjustment. 3 PA Other Adjustments Refund of Collected Termination Charges Complementary AVCs from the termination of CUST agreements (36 EUST) with PIS/COFINS (pass-through). It is worth highlighting the context that shaped its definition. In recent years, there was a sharp increase in CUST decontracting and terminations driven by the so-called "Gold Rush" — the high number of grant (outorga) applications filed by generators through March 2022 in an effort to preserve the subsidies in transmission and distribution tariffs, after legislation set a phased termination of these discounts. However, as many projects did not materialize within their contractual deadlines, there was a high level of default on Termination Charges. Transmission companies are responsible for collecting these charges through a complementary AVC issued by the ONS and refunding them through the PA, functioning as a pass-through billed within revenue. Normative Resolution (ReN) No. 1,125/2025 established the methodology for verifying the transmission companies' best efforts in collecting the amounts related to CUST termination charges that are not effectively paid by the developers. AXIA Energia companies successfully demonstrated 100% of the Best Effort to the regulator. Accordingly, on June 2, 2026, at its 11th Ordinary Meeting, ANEEL's Board decided not to deduct, in the form of a PA in this 2026/2027 cycle, the amounts billed and charged but not received. -1 PA Other Adjustments Ruling Nº 476/2026 First of two installments, associated with the allocation to tariff affordability of additional amounts received between 2018/2019 and 2022/2023, in compliance with Ruling No. 476/2026. -76 PA Other Adjustments Others This includes (a) effects from the replacement, decommissioning, or transfer of facilities, (b) compensation for the reduction in MUST, and (c) other less material events. 38 Total -171
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11.7. Appendix 7 - Transmission System Usage Tariff, 2026/2027 Cycle ANEEL Ruling No. 2,269/2026, published on June 22, 2026, set the update to the Transmission System Usage Tariff (TUST) for the 2026/2027 cycle. The TUST is charged to transmission system users and is intended to remunerate the concessionaires for the infrastructure made available for use. AXIA Energia holds a 100% interest in 53 generation plants connected to the Basic Grid of the National Interconnected System (SIN). Connected users remunerate the system through the Transmission System Usage Charge (EUST), calculated from the TUST and the plant's contracted capacity, under the applicable Transmission System Usage Agreement (CUST). The update to the Basic Grid TUST for the 2026/2027 cycle resulted in a positive repositioning of the total charges payable by the sample of 53 AXIA Energia plants, representing a 9.5% increase or R$ 423 million when compared with the 2025/2026 cycle. The average tariff calculated for the 2026/2027 cycle is R$ 12.16/kW. The change was mainly explained by the R$ 3,865 million increase in RAP of SIN transmission companies attributable to the Basic Grid, up 9.1% in the period. In addition, contracted generation capacity base fell by 3 GW, or 1.7% in the period. It is also worth noting that some plants have stabilized tariffs under Normative Resolutions No. 267/2007 and No. 559/2013, resulting in an annual repositioning that captures inflation only. The adjustment is calculated using the Transmission Adjustment Index (IAT), which was a positive 4.45% in the 2026/2027 cycle, compared with 5.51% in the 2025/2026 cycle. AXIA Energia currently has 19 plants with stabilized tariffs. Table 46 - Main contributions to the Transmission System Usage Charge (EUST), 2026/2027 Cycle Indicator 2025/2026 Cycle (Reference jun/25) Ciclo 2026/2027 (Reference jun/26) Change (%) EUST associated with AXIA Energia's power plants (R$ million) 4,463 4,885 9.5 RAP of SIN transmission companies (R$ million) 42,370 46,234 9.1 Contracted generation capacity (MW) 172,630 169,727 -1.7 Transmission Adjustment Index (IAT) (%) 5.5 4.5 -19.2 Table 47 - Transmission System Usage Charge (EUST), 2026/2027 Cycle (R$ million) AXIA Energia Company 2026/2027 Cycle (Reference jun/26) AXIA Energia Norte 1,407 AXIA Energia Nordeste 1,300 AXIA Energia Holding 972 AXIA Energia Sul 16 SPEs 1,190 Total 4,886
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11.8. Appendix 8 - Accounting Statements Table 48 - Balance sheet (R$ thousand) PARENT COMPANY CONSOLIDATED 06/30/2026 12/31/2025 06/30/2026 12/31/2025 CURRENT ASSETS 24,442,240 21,135,398 51,751,680 52,090,586 Cash and cash equivalents 3,835,885 4,660,994 11,039,660 16,417,860 Restricted cash 825,463 622,383 932,264 660,259 Securities 6,768,450 3,894,302 15,189,665 11,133,842 Clients 1,743,507 1,530,268 5,769,590 5,575,589 Transmission contract assets 4,738,209 4,765,705 10,077,513 10,693,181 Financing, loans and debentures 6,292 10,625 6,292 10,625 Remuneration for equity holdings 1,743,164 1,533,871 316,156 470,142 Taxes and Contributions 1,770,368 1,486,283 3,473,858 2,766,765 Income tax and social contribution 0 0 0 0 Right to compensation 368,468 723,294 387,824 752,496 Warehouse 0 0 0 0 Derivative financial instruments 2,795 0 21,170 64,334 Assets held for sale 1,625,629 1,011,461 2,265,391 1,072,431 Others 1,014,010 896,212 2,272,297 2,473,062 NON-CURRENT ASSETS 40,016,387 41,365,923 87,392,500 86,792,940 Restricted cash 1,690,547 1,605,632 3,569,870 3,436,804 Equity Holdings Income 425,002 425,002 0 0 Right to compensation 0 2,176 0 2,176 Financing, loans and debentures 192,423 180,568 192,423 180,568 Clients 112,350 132,067 486,119 522,859 Securities 440,401 440,401 441,084 722,673 Taxes and Contributions 1,603,307 2,582,258 2,205,953 3,178,769 Deferred income tax and social contribution 12,313,001 11,836,824 17,840,191 17,499,833 Bonds and deposits linked 4,024,029 4,216,310 5,608,316 5,762,270 Transmission contractual assets 18,397,118 18,746,924 55,388,037 53,567,662 Derivative financial instruments 172,278 516,782 697,068 1,072,386 Others 645,931 680,979 963,439 846,940 INVESTMENTS 107,461,515 108,202,833 22,754,150 24,517,185 Equity Income 106,256,095 107,026,094 21,530,806 23,322,816 Held at fair value 1,204,220 1,175,539 1,205,262 1,175,539 Other Investments 1,200 1,200 18,082 18,830 FIXED ASSETS 7,989,766 7,897,759 39,510,607 39,659,177 INTANGIBLE 20,216,141 20,477,493 75,849,500 76,625,705 TOTAL ASSETS 200,126,049 199,079,406 277,258,437 279,685,593
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PARENT COMPANY CONSOLIDATED 6/30/2026 12/31/2025 6/30/2026 12/31/2025 CURRENT LIABILITIES 13,868,841 16,468,877 25,211,950 30,978,400 Loans, financing and debentures 5,639,350 7,172,085 9,344,113 13,204,167 Compulsory loans - Agreements 710,815 1,071,291 711,798 1,073,452 Compulsory loans 1,523,346 1,406,460 1,523,346 1,406,460 Suppliers 893,532 1,878,308 2,075,418 3,916,279 Taxes and Contributions 240,280 454,920 788,789 1,021,353 Income tax and social contribution 0 0 0 0 Onerous contracts 2,076 0 109,588 113,944 Shareholder remuneration 45,346 135,863 45,346 136,124 Personnel obligations 385,059 506,348 829,982 1,060,856 Reimbursement Obligations 0 0 338,382 300,694 Post-employment benefits 131 77 305,501 303,832 Provision for litigation 1,297,912 648,956 1,318,983 666,092 Sector charges 98,753 115,097 666,738 886,565 Obligations under Law 14,182/2021 1,238,782 1,044,757 4,389,505 3,738,498 RGR Returns 573,965 695,705 573,965 695,705 Leasing 59,395 36,483 111,353 72,981 Derivative financial instruments 1,092,974 1,100,992 1,683,520 1,651,632 Others 67,125 201,535 395,623 729,766 NON-CURRENT LIABILITIES 64,012,916 64,180,392 129,758,317 130,205,536 Loans, financing and debentures 36,699,188 36,918,552 61,628,489 61,091,597 Shareholder remuneration 0 0 0 0 Suppliers 0 0 12,517 0 Provision for litigation 13,568,867 14,086,402 18,471,225 19,242,041 Post-employment benefits 389,440 383,875 3,272,392 3,276,459 Obligations under Law 14,182/2021 10,984,307 11,393,664 38,569,535 40,028,165 RGR Returns 0 0 0 0 Onerous contracts 2,076 4,151 229,757 282,371 Reimbursement Obligations 0 0 76,775 0 Leasing 252,916 104,478 572,385 415,625 Concessions payable - Use of public assets 69,814 70,486 589,954 589,412 Advances for future capital increases 133,066 124,543 133,066 124,543 Derivative financial instruments 814,880 151,487 878,784 151,487 Sector charges 436,327 478,305 653,203 688,574 Taxes and Contributions 85,911 88,511 89,682 198,782 Deferred income tax and social contribution 0 0 2,858,972 2,421,481 Others 576,124 375,938 1,721,581 1,694,999 SHAREHOLDERS' EQUITY 122,244,292 118,430,137 122,288,170 118,501,657 Share capital 100,135,201 100,135,201 100,135,201 100,135,201 Share issue costs -114,029 -108,186 -114,029 -108,186 Capital Reserves and Granted Equity Instruments 14,686,462 14,689,872 14,686,462 14,689,872 Treasury shares -3,003,436 -3,034,806 -3,003,436 -3,034,806 Profit reserves 11,818,426 11,818,426 11,818,426 11,818,426 Proposed additional dividend 0 0 0 0 Accumulated profit 3,820,241 0 3,820,241 0 Accumulated other comprehensive income -5,098,573 -5,070,370 -5,098,573 -5,070,370 Other comprehensive income classified as held for sale 0 0 0 0 Controlling shareholders 122,244,292 118,430,137 122,244,292 118,430,137 Non-controlling shareholders 0 0 43,878 71,520 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 200,126,049 199,079,406 277,258,437 279,685,593
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Table 49 - Income statement (R$ thousand) PARENT COMPANY CONSOLIDATED 30/06/2026 30/06/2025 30/06/2026 30/06/2025 CONTINUING OPERATIONS Net operating revenue 7,303,702 7,191,028 23,899,887 20,613,133 Operating costs -3,568,590 -4,162,849 -10,800,873 -10,923,292 GROSS PROFIT 3,735,112 3,028,179 13,099,014 9,689,841 Operating expenses -1,950,505 -788,941 -3,447,627 -2,403,980 Other income and expenses -33,181 85,933 199,647 190,179 Regulatory Remeasurements - Transmission Contracts 0 -1,681,819 0 -4,385,033 OPERATING RESULT BEFORE FINANCIAL RESULT 1,751,426 643,352 9,851,034 3,091,007 FINANCIAL RESULT -3,747,974 -3,012,628 -6,650,946 -6,048,785 Income from interest, fines, commissions and fees -2,261 138,344 -2,261 23,432 Income from financial investments 889,365 1,193,925 2,050,839 2,158,536 Late payment surcharge on electricity 6,929 2,318 96,463 68,224 Other financial income 7,732 45,507 122,856 53,298 (–) Taxes on financial income -68,241 -89,143 -136,687 -161,536 Financial Income 833,524 1,290,951 2,131,210 2,141,954 Debt charges -1,791,022 -1,884,688 -2,855,312 -3,168,301 CDE obligation charges -401,127 -380,441 -1,394,786 -1,322,857 River basin revitalization charges -38,498 -41,802 -146,460 -157,249 Other financial expenses -102,248 -132,642 -176,912 -195,448 Financial expenses -2,332,895 -2,439,573 -4,573,470 -4,843,855 Monetary updates – CDE -378,493 -301,498 -1,316,082 -1,048,360 Monetary updates – river basins -47,070 -42,670 -179,072 -165,447 Monetary reliefs -471,407 -369,535 -653,838 -548,448 Exchange rate variations 18,737 -9,485 19,115 -6,976 Change in fair value of hedged debt net of derivative -1,370,370 -1,140,818 -2,078,809 -1,553,607 Change in derivative financial instrument not linked to debt protection 0 0 0 -24,046 Financial items, net -2,248,603 -1,864,006 -4,208,686 -3,346,884 PROFIT BEFORE EQUITY HOLDINGS -1,996,548 -2,369,276 3,200,088 -2,957,778 Equity income 5,328,517 32,631 1,037,267 241,625 OPERATING PROFIT BEFORE TAX 3,331,969 -2,336,645 4,237,355 -2,716,153 Current income tax and social contribution 0 0 -457,571 -332,852 Deferred income tax and social contribution 487,780 659,157 41,647 1,370,283 NET INCOME FOR CONTINUING OPERATIONS 3,819,749 -1,677,488 3,821,431 -1,678,722 Portion attributable to controlling 3,819,749 -1,677,488 3,819,749 -1,677,488 Portion attributable to non-controlling 0 0 1,682 -1,234 NET INCOME (LOSS) FOR DISCONTINUED OPERATIONS 0 0 0 0 Portion attributable to controlling 0 0 0 0 Portion attributable to non-controlling 0 0 0 0 NET INCOME FOR THE YEAR 3,819,749 -1,677,488 3,821,431 -1,678,722 Portion attributable to controlling 3,819,749 -1,677,488 3,819,749 -1,677,488 Portion attributable to non-controlling 0 0 1,682 -1,234 EARNINGS PER SHARE Earnings per share - basic (ON/PNC) 1.33 -0.59 1.33 -0.59 Earnings per share - diluted (ON/PNC) 1.32 -0.58 1.32 -0.58
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Table 50 - Cash flow statement (R$ thousand) OPERATING ACTIVITIES Profit for the year before income tax and social contribution 3,331,969 -2,336,645 4,237,355 -2,716,153 Adjustments to reconcile profit with cash generated by operations: Depreciation and amortization 541,886 447,787 2,485,330 2,243,600 Net exchange and monetary variations 878,233 723,188 2,129,877 1,769,231 Result of acquisitions and divestments 398,011 -97,203 886,015 105,460 Financial charges 1,816,269 974,662 3,549,442 2,466,439 Equity income -5,328,517 -32,631 -1,037,267 -241,625 Other income and expenses 33,181 -86,115 -99,086 -190,179 Transmission revenues -3,536,959 -3,872,041 -10,671,172 -10,264,270 Construction cost - transmission 587,931 756,978 2,613,133 1,780,935 Regulatory Remeasurements - Transmission Contracts 0 1,681,819 0 4,385,033 Operating provisions (reversals) 691,935 -50,303 801,827 259,625 Write-offs of PP&E and Intangible Assets 25,602 436 156,818 -152,745 Result of hedged debt and derivatives 1,370,370 1,140,819 2,078,809 1,577,653 Other 155,828 173,960 66,638 107,968 -2,366,230 1,761,356 2,960,364 3,847,125 (Additions)/decreases in operating assets Clients -185,658 54,672 -167,503 662,011 Right to compensation 378,184 549,691 378,184 555,702 Others -108,205 1,268,465 331,997 2,049,160 84,321 1,872,828 542,678 3,266,873 Additions/(decreases) in operating liabilities Suppliers -642,853 -183,189 -1,150,908 -523,399 Advances 0 0 0 0 Personnel obligations -93,329 -107,298 -202,914 -285,949 Sector charges -67,072 -2,465 -281,915 117,841 Others 424,617 -34,416 -355,060 -1,035,375 -378,637 -327,368 -1,990,797 -1,726,882 Payment of financial charges -2,421,681 -2,181,963 -4,223,698 -3,137,666 Reversion global reserve Payment 0 0 0 0 Receipt of RAP revenue 3,914,261 3,654,516 9,466,465 9,196,807 Receipt of Financial Charges from Subsidiaries 0 0 0 0 Receipt of remuneration from investments in equity holdings 4,561,603 1,242,572 575,519 527,296 Payment of litigation -1,170,360 -1,750,604 -1,479,628 -1,874,922 Bonds and linked deposits 78,200 -430,710 33,776 38,763 Payment of income tax and social contribution 0 -14,280 -538,794 -173,967 Supplementary pension payments -12,872 -12,354 -173,079 -166,504 Net cash provided by operating activities of discontinued operations 0 0 0 0 Net cash provided by (used in) operating activities 5,495,173 1,477,348 9,284,760 7,080,770 FINANCING ACTIVITIES Loans and financing obtained and debentures obtained 2,000,000 0 3,200,000 500,000 Payment of loans and financing and debentures - principal -3,336,828 -4,350,801 -6,200,207 -6,332,830 Payment of remuneration to shareholders -90,518 -3,989,181 -90,518 -3,996,565 Payment to dissenting shareholders - incorporation of shares 0 0 0 0 Share buybacks 0 0 0 0 Payment of CDE obligations and revitalization of basins - principal -891,031 -841,594 -3,173,514 -2,691,384 Lease payments - principal 0 -17,223 0 -25,868 Derivatives Payment 0 0 0 0 Others -652,564 -136,635 -1,089,407 -136,635 PARENT COMPANY CONSOLIDATED 06/30/2026 06/30/2025 06/30/2026 06/30/2025
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Net cash (used in) financing activities -2,970,941 -9,335,434 -7,353,646 -12,683,282 INVESTMENT ACTIVITIES Grant of advance for future capital increase 0 0 0 0 Receipt of loans and financing 2,237 274,435 2,237 2,210 Receipt of financial charges 0 110,311 0 263 Acquisition of fixed assets -334,080 -60,946 -1,026,360 -727,574 Acquisition of intangible assets -108,003 -19,894 -186,017 -105,746 Restricted cash -88,667 82,095 -142,477 96,710 Financial (withdrawals)/contributions (securities) -2,777,650 3,497,483 -3,768,822 1,801,323 Receipt of charges (securities) 343,838 229,318 860,280 280,876 Debentures Acquisition 0 0 0 0 Transmission infrastructure - contractual asset -714,618 -756,978 -2,934,152 -1,780,935 Capital acquisition/contribution of equity holdings -215,749 -459,213 -719,262 -591,559 Disposal of equity holdings 800,226 189,814 800,226 2,584,072 Net cash in the incorporation of subsidiaries 0 0 0 0 Net cash in the acquisition of control of investees -256,875 0 -194,967 0 Others 0 0 0 0 Net cash provided by investment activities of discontinued operations 0 0 0 0 Net cash provided by (used in) investing activities -3,349,341 3,086,425 -7,309,314 1,559,641 Increase (decrease) in cash and cash equivalents -825,109 -4,771,661 -5,378,200 -4,042,871 Cash and cash equivalents at the beginning of the period 4,660,994 16,387,945 16,417,860 26,572,522 Cash and cash equivalents at the end of the period 3,835,885 11,616,284 11,039,660 22,529,651 PARENT COMPANY CONSOLIDATED 06/30/2026 06/30/2025 06/30/2026 06/30/2025
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11.9. Appendix 9 - IFRS vs. Regulatory Reconciliation Table 51 - Reconciliation IFRS vs. regulatory (R$ thousand) OPERATING REVENUES Generation Power supply for distribution companies 7,397,018 7,397,018 0 9,716,506 9,757,199 -40,693 Power supply for end consumers 1,658,290 1,658,290 0 927,549 927,549 0 CCEE revenue (short term market) 6,921,566 6,921,566 0 2,146,052 2,146,052 0 Operation and maintenance (O&M) revenue 556,557 556,557 0 1,028,535 1,028,535 0 Transmission Operation and maintenance revenue 3,871,207 0 3,871,207 4,080,926 0 4,080,926 Construction revenue 2,512,512 0 2,512,512 1,808,870 0 1,808,870 Contract revenue – Transmission 4,287,453 0 4,287,453 4,374,474 0 4,374,474 Transmission System Availability (Rap) 0 8,396,071 -8,396,071 0 8,910,678 -8,910,678 Other income 290,602 290,602 0 220,746 220,746 0 Deductions (-) Sector charges -1,318,354 -1,318,355 1 -1,364,726 -1,364,726 0 (-) ICMS -187,540 -187,540 0 -152,694 -152,694 0 (-) PASEP e COFINS -2,087,752 -2,087,752 0 -2,170,644 -2,170,644 0 (-) Other Deductions -1,672 -1,672 0 -2,461 -2,461 0 Net Operating Revenue 23,899,887 21,624,784 2,275,103 20,613,133 19,300,234 1,312,899 OPERATING COSTS Personnel, Material and Services -1,347,843 -1,347,923 80 -1,320,172 -1,320,172 0 Energy purchased for resale -2,526,045 -2,526,045 0 -2,867,404 -3,142,399 274,995 Charges for use of the electricity grid -1,891,695 -1,583,930 -307,765 -1,951,072 -1,657,862 -293,210 Fuel for electricity production -1,554 -1,554 0 -781,976 -781,976 0 Construction -2,613,133 0 -2,613,133 -1,780,935 0 -1,780,935 Depreciation -956,509 -1,824,238 867,729 -947,842 -1,906,946 959,104 Amortization -1,295,980 -1,301,589 5,609 -1,126,315 -1,129,694 3,379 Operating provisions/reversals 0 0 0 0 0 0 Other costs -168,114 -168,114 0 -147,576 -147,576 0 Operating costs -10,800,873 -8,753,393 -2,047,480 -10,923,292 -10,086,625 -836,667 GROSS PROFIT 13,099,014 12,871,391 227,623 9,689,841 9,213,609 476,232 OPERATING EXPENSES CVM IFRS Regulatory Differences CVM IFRS Regulatory Differences 06/30/2026 06/30/2025
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Personnel, Material and Services -1,304,482 -1,308,004 3,522 -1,422,149 -1,429,216 7,067 Voluntary Dismissal Program -16,485 -16,485 0 -193,908 -193,908 0 Remuneration and compensation 0 0 0 0 0 0 Depreciation -133,793 -138,757 4,964 -106,627 -106,627 0 Amortization -99,048 -128,996 29,948 -62,816 -62,816 0 Donations and contributions -5,407 -5,407 0 -40,086 -40,086 0 Operating provisions/reversals -801,827 -267,476 -534,351 -259,625 86,091 -345,716 Result from asset sales -886,015 340,958 -1,226,973 -105,460 504,251 -609,711 Other expenses -200,570 -204,930 4,360 -213,309 -228,952 15,643 OPERATING EXPENSES -3,447,627 -1,729,097 -1,718,530 -2,403,980 -1,471,263 -932,717 Regulatory Remeasurements - Transmission Contracts 0 0 0 -4,385,033 0 -4,385,033 OPERATING RESULT BEFORE FINANCIAL RESULT 9,651,387 11,142,294 -1,490,907 2,900,828 7,742,346 -4,841,518 FINANCIAL RESULT -6,650,946 -7,151,416 500,470 -6,048,785 -6,283,908 235,123 PROFIT BEFORE EQUITY HOLDINGS 3,000,441 3,990,878 -990,437 -3,147,957 1,458,438 -4,606,395 Equity income 1,037,267 747,456 289,811 241,625 166,439 75,186 Other income and expenses 199,647 199,647 0 190,179 190,179 0 OPERATING PROFIT BEFORE TAX 4,237,355 4,937,982 -700,627 -2,716,153 1,815,056 -4,531,209 Current income tax and social contribution -457,571 -457,572 1 -332,852 -332,852 0 Deferred income tax and social contribution 41,647 -55,211 96,858 1,370,283 -98,423 1,468,706 NET INCOME FOR CONTINUING OPERATIONS 3,821,431 4,425,199 -603,768 -1,678,722 1,383,781 -3,062,503 Portion attributable to controlling 3,819,749 4,423,516 -603,767 -1,677,488 1,490,693 -3,168,181 Portion attributable to controlling 1,682 1,683 -1 -1,234 -106,912 105,678 NET INCOME (LOSS) FOR DISCONTINUED OPERATIONS 0 0 0 0 0 0 Portion attributable to controlling 0 0 0 0 0 0 Portion attributable to controlling 0 0 0 0 0 0 NET INCOME FOR THE YEAR 3,821,431 4,425,199 -603,768 -1,678,722 1,383,781 -3,062,503 Portion attributable to controlling 3,819,749 4,423,516 -603,767 -1,677,488 1,385,014 -3,062,502 Portion attributable to controlling 1,682 1,683 -1 -1,234 -1,234 0 CVM IFRS Regulatory Differences CVM IFRS Regulatory Differences 06/30/2026 06/30/2025
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