Maria Carolina Carneiro

Andre Sampaio

Bruno Amorim

Daniel Travitzky

Marcelo Sá

Andres Ampayo

Antonio Junqueira

Arthur Pereira

Bruno Amarin

Daniel Trevitsky

Felipe Andrade

Filipe Andrade

Florent Pimentel

Gilmar Alves Lima

Henrique Peretti

Roberto Lira

Vitor Sousa

- Centrais Elétricas do Norte do Brasil S.A. – Eletronorte, a subsidiary of Eletrobrás, approved its **8th issuance of simple debentures** for a total of **R$ 700,000,000.00 (seven hundred million reais)**.  **[1439124_0001292814-25-003415_ebr20250929_6k.htm:2]** **[1439124_0001292814-25-003415_ebr20250929_6k.htm:4]** 
- Eletrobrás will provide an **irrevocable and irreversible personal guarantee** for the debenture issuance, acting as guarantor and principal payer.  **[1439124_0001292814-25-003415_ebr20250929_6k.htm:2]** **[1439124_0001292814-25-003415_ebr20250929_6k.htm:4]** 
- The funds from this issuance are designated exclusively for the **construction, operation, and maintenance of electric power transmission facilities** in the States of Amazonas and Roraima.  **[1439124_0001292814-25-003415_ebr20250929_6k.htm:4]** 
- The debentures are **unsecured**, **not convertible into shares**, have a **10-year term**, and will offer remuneration based on the greater of **6.50% p.a.** or the internal rate of return of NTN-B35 - 0.65% p.a..  **[1439124_0001292814-25-003415_ebr20250929_6k.htm:4]**

Eletrobrás Subsidiary Eletronorte Approves R$700 Million Debenture Issuance with Eletrobrás Guarantee

- **Eletrobras**' subsidiary, **Eletronorte**, received Board of Directors' approval to execute its **8th issuance of simple debentures**.  **[1439124_0001292814-25-003399_ebr20250926_6k.htm:0]** 
- The debentures will be issued in a **single series** for a total amount of **R$ 700 million**, with a maturity date of **September 15, 2035**.  **[1439124_0001292814-25-003399_ebr20250926_6k.htm:0]** 
- This issuance benefits from the tax incentive set forth in Law No. 12,431/2011 and will be issued under the Eco Invest Brasil Program in accordance with Law No. 14,995/2024.  **[1439124_0001292814-25-003399_ebr20250926_6k.htm:0]** 
- **Eletrobras** will assume the role of **guarantor and primary obligor** for the debentures.  **[1439124_0001292814-25-003399_ebr20250926_6k.htm:0]**

Eletrobras Subsidiary Eletronorte to Issue R$700 Million in Debentures

- Centrais Elétricas Brasileiras S.A. – Eletrobras announced that the **Manaus–Boa Vista Transmission Line** entered commercial operation on **September 16, 2025**, integrating the State of Roraima into the National Interconnected System.  **[1439124_0001292814-25-003354_ebr2020922_6k.htm:1]** 
- The project involved an investment of approximately **R$ 3.3 billion** and has an Annual Permitted Revenue (RAP) of **R$ 562 million** (based on September 2025 values), with a concession term running until **2051**.  **[1439124_0001292814-25-003354_ebr2020922_6k.htm:1]** 
- Eletrobras holds a **64.6% stake** in the concessionaire, Transnorte Energia S.A. (TNE), and a Shareholders’ Agreement provides for a progressive increase in its ownership.  **[1439124_0001292814-25-003354_ebr2020922_6k.htm:1]** 
- The operation of the transmission line is estimated to reduce CO2 emissions by approximately **280 thousand tons per year**.  **[1439124_0001292814-25-003354_ebr2020922_6k.htm:1]**

Eletrobras announces Manaus–Boa Vista Transmission Line commercial operation

- Eletrobras' leverage is projected to **peak in 2025**, with net adjusted debt to EBITDA in the **5.0x-5.5x range**, and is expected to gradually improve to slightly below **5.0x in 2026** and around **4.5x from 2027** onward.  **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:2]** **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:3]** 
- The company plans annual capital expenditures of approximately **R$12 billion** in **2025-2026**, which will decrease to about **R$8.5 billion in 2027**.  **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:2]** **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:4]** 
- A record dividend payment of **R$8 billion** is expected in **2025**, contributing to a negative free operating cash flow of **R$5.5 billion-R$6.5 billion annually** in the next two years, primarily covered by its sizable cash position of **R$29.8 billion** as of June 2025.  **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:2]** **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:4]** 
- EBITDA margins are forecast at **54%-55% in 2025**, with an anticipated increase to **60%-62% from 2026** onward, driven by efficiency gains and higher profits in the generation segment.  **[1439124_0001292814-25-003178_ebr20250828_6k1.htm:3]**

Eletrobras Forecasts Leverage Peak in 2025 Amidst High Investments and Dividends

BRAZILIAN ELECTRIC POWER (EBR)