AXIA7: quote, dividends and indicators for Axia Energia

Axia Energia S.A. is a publicly traded company in the Brazilian power sector, successor to the former Centrais Elétricas Brasileiras S.A. – Eletrobras. Established in 1962, after a project approved in 1961, it was founded as a mixed-capital corporation with a central role in the country’s electric power policy, originally operating in studies, projects, construction and operation of generation, transmission and distribution ventures. Throughout the 1960s and 1970s, its responsibilities were expanded by several federal laws, consolidating it as a key player in the expansion of Brazil’s power infrastructure, including participation in the creation of Itaipu Binacional, in partnership with Paraguay’s Administración Nacional de Electricidad. The group’s structure was gradually organized through regional subsidiaries that gave rise to today’s Axia Energia Norte, Axia Energia Sul and Axia Energia Nordeste.

The company’s trajectory has also gone through corporate restructuring and privatization cycles. In the 1990s, the company assumed distribution concessions belonging to various states, which were later federalized and privatized between 2018 and 2019 under the National Privatization Program. The privatization process of the holding company itself moved forward starting in 2017, with a public offering of shares and ADRs completed in 2022, after approval by the Brazilian Securities and Exchange Commission (CVM) and the U.S. Securities and Exchange Commission. The transaction resulted in the loss of mixed-capital company status and in a dispersed shareholder base, turning Axia Energia into a privately held company. Since then, several mergers and corporate simplification transactions have been implemented, including the creation of Axia Energia Sul through the integration of Eletrosul and CGTEE, the merger of Furnas and Eletropar, as well as the acquisition of 51% of Eletronet S.A.

Axia Energia’s shares trade on B3 S.A. – Brasil, Bolsa, Balcão under the tickers AXIA3 (common shares) and AXIA7 (class C preferred shares), following a governance migration process that included the proposal and listing on the Novo Mercado special segment in 2026. The company has undergone capital restructurings, with the creation of different classes of preferred shares and the subsequent conversion of part of them into common shares, as well as the issuance of class C preferred shares through capitalization of profit reserves, as a stock bonus. At the same time, it was delisted from Latibex in 2025 and started the process of delisting its ADRs from the New York Stock Exchange, aiming to concentrate liquidity in a single market. In 2026, the corporate name was formally changed to Axia Energia S.A., and the new Axia Energia brand came to identify the group after a bell-ringing ceremony at B3.

Axia Energia’s business model integrates the power generation, transmission and trading segments. Its main activities include conducting studies, projects, construction and operation of plants and transmission lines, in addition to entering into business transactions directly related to these operations, such as power purchase and sale agreements in different market environments. The company also supports research in the energy sector, develops initiatives for the rational and sustainable use of energy, operates in the prospecting of alternative generation sources and in the deployment of smart grids. In 2025, generation activities accounted for around 60% of net operating revenue, while the transmission segment represented just over 40%, with a small contribution from other activities, such as administrative services and cash management for group companies and businesses in special purpose entities.

In generation, Axia Energia is the largest power generator in the country, with installed capacity of 43,872.3 MW, equivalent to approximately 17% of Brazil’s installed capacity, according to ANEEL data. In 2025, its portfolio comprised 81 projects in 20 states and the Federal District, including hydroelectric power plants, wind farms and a solar plant, as well as interests in several SPEs. The company’s generation mix became fully renewable after the divestment of thermal power plants, a process that began with the sale of the Candiota coal complex and was completed in 2025 with the sale of the Santa Cruz TPP and other gas assets to the J&F group. Hydroelectric plants account for about 97% of energy generated, with emphasis on the Tucuruí HPP, on the Tocantins River, one of the largest 100% Brazilian hydroelectric plants in terms of installed capacity. In wind power, the company owns projects such as the Casa Nova complex in Bahia, and in solar it operates the Megawatt Solar plant in Santa Catarina.

In transmission, Axia Energia manages one of the largest networks in the Brazilian system. In 2025, it operated 74,769 km of transmission lines, considering corporate facilities and holdings in SPEs, holding a prominent position in the National Interconnected System. In the Basic Network alone, with voltage equal to or higher than 230 kV, the length reached 70,238 km, equivalent to approximately 37% of the SIN grid, in addition to 263,735 MVA of transformation capacity in its own facilities. The company participates in transmission auctions held by ANEEL and holds interests in generation and transmission companies organized into 42 clusters, which include hydro, wind, solar and transmission projects. Investment decisions are evaluated based on criteria of economic merit, profitability and adherence to strategic capital allocation guidelines.

Axia Energia’s commercial activities include selling electricity both in the Regulated Contracting Environment, through long-term contracts arising from concessions and auctions, and in the Free Contracting Environment. In 2025, the company sold 8,973 average MW in the free market, with a portfolio of 875 clients, mostly ACL consumers. The company does not have any material revenue concentration in a single client; in that year there was no buyer accounting for more than 10% of total net revenue. All net operating revenue is attributable to the Brazilian market, with no material share of revenue abroad, although Axia Energia holds an interest in one SPE outside the country among its investees.

Axia Energia operates in a highly regulated environment, subject to the rules and authorizations of the Ministry of Mines and Energy and the Brazilian Electricity Regulatory Agency. The construction and operation of plants and transmission lines depend on concessions, permits or authorizations obtained through bidding processes or specific grants. Concessions have fixed terms, generally from 30 to 35 years, and are subject to conditions such as the provision of adequate service, compliance with quality standards, maintenance of the contracts’ economic and financial balance and observance of environmental and safety regulations. Oversight includes the possibility of sanctions by ANEEL in cases of non-compliance, which may include fines, restrictions on participation in new auctions, intervention and even forfeiture of concessions. In addition, operation of the integrated generation and transmission system is coordinated by the National Electric System Operator, which defines plant dispatch and operational planning for the SIN.

From an environmental, social and governance standpoint, Axia Energia adopts structured sustainability reporting and management practices. The company publishes an annual Sustainability Report consolidated for the holding and subsidiaries, including some selected investees, with information aligned with international standards such as GRI, SASB, TCFD, the IIRC integrated reporting framework and the UN Global Compact principles, as well as ANEEL’s sector guidelines. Both the annual report and the greenhouse gas emissions inventory are subject to assurance by independent auditors. The company uses a materiality matrix updated every two years, based on a double materiality methodology that considers impacts on stakeholders and financial effects for the organization. The decision to maintain a 100% renewable generation portfolio and the target of aligning with decarbonization commitments, such as the Net Zero 2030 goal, reinforce Axia Energia’s strategic focus on emissions reduction and integration of ESG factors into its business model, directly related to the operation of its assets and the performance of its AXIA3 and AXIA7 shares on B3.