Official Letter 239/2016-CVM/SEP/GEA-1

“Dear Executive Officer,

We refer to the news item published today on Valor Econômico newspaper, Seção Empresas (companies section), under the title: “State-owned company negotiates installment payment of debt totaling R$5.4 billion with Petrobras”, which includes the following statements:

Eletrobras and Petrobras are negotiating an agreement related to the acknowledgment of a debt totaling R$5.449 billion which the electricity distributors have with the oil company and BR Distribuidora related to the supply of gas and fuel oil between December 2014 and April 2016

Pursuant to the terms of the agreement, which was approved by the technical area of the Brazilian Electricity Regulatory Agency (Aneel), said debt will be paid in 18 monthly and successive installments, restated by the Selic basic interest rate plus a fine of 2% on the restated amount in case of default. Despite the approval of the technical area, the agreement is still pending approval by the executive board of the regulatory agency. In addition, according to Valor’s sources, Companhia de Gás do Amazonas (Cigás), a company controlled by the Amazonas State Government which is also in default with Petrobras, also asked to renegotiate its debt.

The operation will have a guarantee of R$2.884 billion, related to credits that they have not yet received from the Energetic Development Account (CDE), through the Fuel Consumption Account (CCC), and additional R$2.565 billion from the Companies’ own funds, arising from revenue from the sale of energy to consumers.

The debt totaling R$5.4 billion is related to the distributors Amazonas Energia (R$4.128 billion), Eletrobras Rondônia (R$1.057 billion), Eletrobras Acre (R$131.72 million) and Eletrobras Roraima (R$132.368 million).

In view of the above, we determined that you clarify whether the news item is true, and, if confirmed its veracity, the Company should explain the reasons why the information was not disclosed through a material fact and comment other information deemed relevant on the topic.”

Clarification

Eletrobras and its power distributors have past due debts with Petrobras and Petrobras Distribuidora (BR). The accumulated debt concerns the supply of gas, with regard to Petrobras, and the supply of fuel oil and other products, with regard to BR.

On March 31, 2026, the Eletrobras System had debts with Petrobras in the amount of R$13.598 billion. Of this total, R$9.148 billion had an expected receipt, including guarantees, and R$4.450 billion was recognized as provisions for doubtful credits, as disclosed in the Explanatory Note 7.4 of Petrobras’ financial statements for the 1st quarter of 2016.

It is worth noting that Petrobras and BR are adopting administrative and legal measures in order to collect the amounts of the accumulated debts, and is also assessing any proposals for renegotiation of these debts. However, up to this date, there isn’t any agreement signed with Eletrobras and its distributors concerning the past due debts