On Friday, July 24, 2026, Light (LIGT3), which is under judicial reorganization, approved in a meeting of its board of directors a capital increase of R$ 4,755,080.33, within the authorized capital, through the exercise of 475,508,033 subscription warrants. As a result, share capital rises from R$ 6,973,247,478.61 to R$ 6,978,002,558.94, and the number of common shares increases from 611,029,092 to 1,086,537,125 shares.
The capital increase results exclusively from the exercise of subscription warrants issued as an additional benefit in a private capital increase approved in May 2026. Management states that, apart from dilution for shareholders who did not exercise their preemptive rights in that previous capital increase, it does not see other relevant legal or economic consequences linked to the transaction.
According to the company, the purpose of the capital increase is to meet obligations set out in Clause 5 of Light’s judicial reorganization plan, approved at a creditors’ meeting in May 2024 and ratified by the courts in June 2024. The fiscal council had issued a favorable opinion on the terms and conditions of the subscription warrants at a meeting held on May 13, 2026.
A total of 475,508,033 new registered, book-entry, non-par value common shares free of liens were issued, at an issue price of R$ 0.01 per share. The new shares will be entitled in full to dividends and interest on equity (JCP, Juros sobre Capital Próprio), as well as any other capital distributions that may be declared by the company from the date of approval of the capital increase.
The issued shares will be subject to a lock-up period. Initially, 85% of the shares will remain locked, with the release of 15% on January 24, 2027, 15% on July 24, 2027, 15% on January 24, 2028, 15% on July 24, 2028, and the remaining 40% on January 24, 2029. Dates that fall on a non-business day will be automatically postponed to the next business day, and share fractions generated by the percentages will be carried over to the next release period.
