Light : Notice to Shareholders – Capital Increase Approval

About this update from Light S.a.

Notice to Shareholders Annex E of CVM Resolution No. 80 Light S.A. - Under Judicial Reorganization (" Light " or " Company ") (B3: LIGT3; ADR I: LGSXY), in compliance with article 33, item XXXI, of CVM Resolution No. 80, dated March 29, 2022 (" RCVM 80 "), hereby provides the information required by "Annex E" of RCVM 80, with respect to the capital increase approved by the Company's Board of Directors at a meeting held on May 14, 2026 (" Capital Increase " and " Board Meeting ", respectively), as follows: The issuer must disclose to the market the amount of the capital increase and the new capital stock, and whether the increase will be carried out through: (i) conversion of debentures or other debt securities into shares; (ii) exercise of subscription rights or subscription warrants; (iii) capitalization of profits or reserves; or (iv) subscription of new shares. The Capital Increase will be carried out within the authorized capital limit, under the terms of the Company's Bylaws, in the amount of at least R$1,000,000,000.48 (one billion reais and forty-eight centavos) (" Minimum Capital Increase Amount ") and at most R$1,500,000,000.72 (one billion and five hundred million reais and seventy-two centavos) (" Maximum Capital Increase Amount "), through the issuance, for private subscription, of at least 158,982,512 (one hundred fifty-eight million, nine hundred eighty-two thousand, five hundred twelve) new common shares, all registered, book-entry and without par value (" Shares ") (" Minimum Number of Shares ") and at most 238,473,768 (two hundred thirty-eight million, four hundred seventy-three thousand, seven hundred sixty-eight) Shares (" Maximum Number of Shares "). After the ratification of the Capital Increase (which may be carried out on a partial basis), the Company's capital stock, considering the subscription of the Minimum Number of Shares (" Minimum Subscription "), will increase from R$5,473,247,477.89 (five billion, four hundred seventy-three million, two hundred forty-seven thousand, four hundred seventy-seven reais and eighty-nine centavos), divided into 372,555,324 (three hundred seventy-two million, five hundred fifty-five thousand, three hundred twenty-four) common shares, all registered, book-entry and without par value, to R$6,473,247,478.37 (six billion, four hundred seventy-three million, two hundred forty-seven thousand, four hundred seventy-eight reais and thirty-seven centavos) divided into 531,537,836 (five hundred thirty-one million, five hundred thirty-seven thousand, eight hundred thirty-six) common shares, all registered, book-entry and without par value, and considering the subscription of the Maximum Number of Shares (" Maximum Subscription "), will increase to R$6,973,247,478.61 (six billion, nine hundred seventy-three million, two hundred forty-seven thousand, four hundred seventy-eight reais and sixty-one centavos) divided into 611,029,092 (six hundred eleven million, twenty-nine thousand, ninety-two) common shares, all registered, book-entry and without par value. Explain in detail the reasons for the capital increase and its legal and economic consequences. The Capital Increase aims to fulfill the obligations assumed by the Company under Clause 5 and subclauses of the Company's Judicial Reorganization Plan, approved at the General Meeting of Creditors on May 29, 2024, whose result was ratified by the 3rd Business Court of the District of the Capital of the State of Rio de Janeiro on June 18, 2024, in connection with the Company's judicial reorganization proceedings, filed under No. 0843430-58.2023.8.19.0001 (" JR Plan " and " Judicial Reorganization ", respectively). The Capital Increase will be carried out through private subscription, in observance of the preemptive rights of the Company's existing shareholders; therefore, only shareholders who fail to exercise their respective preemptive rights, which may be freely traded by their holders, will be diluted. Should they exercise their preemptive rights in full, shareholders will, at a minimum, maintain their current equity interests in the Company's capital stock. Other than as described above, the Company's management does not foresee any legal or economic consequences other than those normally expected in a capital increase through private subscription. Opinion of the Fiscal Council. The Company's Fiscal Council issued a favorable opinion on the terms and conditions of the Capital Increase at a meeting held on May 13, 2026. The full text of the Fiscal Council's opinion is transcribed below: The members of the Fiscal Council of Light S.A. - Under Judicial Reorganization ("Company"), in the exercise of the duties conferred upon them by Article 163, item III, and Article 166, §2 of Law No. 6,404, of December 15, 1976, as well as by applicable legal and statutory provisions, examined the proposal for the approval of (i) the Capital Increase of the Company, to be carried out within the limit of the authorized capital stipulated in Article 5 of the Bylaws, through the issuance for private subscription of a minimum of 158,982,512 (one hundred and fifty-eight million, nine hundred and eighty-two thousand, five hundred and twelve) new common, registered, book-entry shares with no par value ("Shares") and a maximum of 238,473,768 (two hundred and thirty-eight million, four hundred and seventy-three thousand, seven hundred and sixty-eight) Shares, at an issue price of R$6.29 (six reais and twenty-nine centavos) per Share, so that the total amount of the Capital Increase shall be a minimum of R$1,000,000,000.48 (one billion reais and forty-eight centavos) and a maximum of R$1,500,000,000.72 (one billion and five hundred million reais and seventy-two centavos) ("Capital Increase"); and (ii) the issuance of a minimum of 317,965,024 (three hundred and seventeen million, nine hundred and sixty-five thousand, and twenty-four) subscription warrants, all registered and book-entry ("Subscription Warrants"), and a maximum of 476,947,536 (four hundred and seventy-six million, nine hundred and forty-seven thousand, five hundred and thirty-six) Subscription Warrants, to be granted as an additional benefit to the subscribers of the Shares issued in the Capital Increase, at a ratio of 2 (two) Subscription Warrants for each 1 (one) new Share subscribed in the Capital Increase, with each Subscription Warrant entitling its holder to subscribe for 1 (one) common, registered, book-entry share with no par value issued by the Company ("Warrant Shares"), at an exercise price of R$0.01 (one centavo of Real) per Warrant Share ("Subscription Warrant Issuance"); and, in order to comply with the provisions of Clause 5 and its sub-clauses of the Judicial Reorganization Plan of the Company, approved at the General Creditors' Meeting on May 29, 2024, the result of which was ratified by the 3rd Business Court of the Judicial District of the Capital of the State of Rio de Janeiro, on June 18, 2024, within the scope of the Company's Judicial Reorganization proceedings, filed under No. 0843430-58.2023.8.19.0001, and with the preemptive rights of the Company's shareholders duly ensured, expressed their favorable opinion on the approval of the Capital Increase and the Subscription Warrant Issuance, measures to be submitted for consideration by the Company's Board of Directors. In the event of a capital increase through subscription of shares, the issuer must: Describe the allocation of proceeds. The proceeds from the Capital Increase will be used in accordance with Clause 5.1.7 of the JR Plan: (i) to carry out a capital increase in Light Serviços de Eletricidade S.A. (" Light SESA ") in an amount equivalent to the Minimum Capital Increase Amount, through the subscription and payment of new common shares to be issued by Light SESA (" Light SESA Capital Increase "); (ii) the amount exceeding the Minimum Capital Increase Amount will be used as follows: (a) 70% (seventy percent) of such excess amount will be allocated to the subscription and payment of additional common shares issued by Light SESA, by the Company, in the Light SESA Capital Increase; and (b) 30% (thirty percent) of such excess amount will be allocated to the Company's cash. Inform the number of shares issued of each type and class. A minimum of 158,982,512 (one hundred fifty-eight million, nine hundred eighty-two thousand, five hundred twelve) Shares and a maximum of 238,473,768 (two hundred thirty-eight million, four hundred seventy-three thousand, seven hundred sixty-eight) Shares will be issued. Describe the rights, advantages and restrictions attributed to the shares to be issued. The shares to be issued will be fully entitled to all benefits, including dividends, interest on equity, bonuses and any capital distributions that may be declared by the Company as from the date of ratification of the Capital Increase. The Shares, once subscribed and paid in, will be subject to the trading restriction period for the Shares provided for in Clause 5.1.8 of the JR Plan (" Lock-up ") and reflected in the schedule below, it being understood that the release of each lot of Shares subject to the Lock-up for trading will occur automatically by the Bookkeeper or by B3, as applicable. Lock-Up Amount (%) First Business Day of each month indicated below (from the date of issuance of the Shares) Released percentage (%) 1 Total Released (%) 100% 1 st month 0% 0% 85% 6 th month 15% 15% 70% 12 th month 15% 30% 55% 18 th month 15% 45% 40% 24 th month 15% 60% 0% 30 th month 40% 100% 1 Any fractional shares resulting from the application of the percentages above will be disregarded for purposes of determining the number of shares to be released in each period, and such fractions will be carried over to the subsequent release period. The Shares will be credited to the subscribers' accounts within 3 (three) business days following the ratification of the Capital Increase by the Board of Directors. The effective Lock-up release dates for trading will be disclosed by the Company after the ratification of the Capital Increase. Inform whether related parties, as defined by the applicable accounting rules, will subscribe for shares in the capital increase, specifying the respective amounts, when such amounts are already known. The investment fund Bavaro Fundo de Investimento em Ações has committed to the Company to participate in the Capital Increase and to contribute new funds, so as to ensure the minimum cash amount of R$1,000,000,000.00 (one billion reais). Members of the Company's management who hold common shares issued by the Company on the Record Date (as defined below) may subscribe for Shares through the exercise of the Preemptive Right. Inform the issue price of the new shares The issue price will be R$6.29 (six reais and twenty-nine centavos) per Share (" Issue Price "). Further details on the calculation criteria for the Issue Price are described in item 4 (VIII) below. Inform the par value of the shares issued or, in the case of shares without par value, the portion of the issue price to be allocated to the capital reserve. Not applicable, as the shares issued by the Company have no par value and no portion of the issue price will be allocated to the capital reserve. Provide the opinion of the management on the effects of the capital increase, particularly with respect to the dilution caused by the increase. Management considers the Capital Increase to be justified given the need for new funds to ensure the implementation of the terms and conditions for the restructuring of bankruptcy claims contemplated in the JR Plan, as well as the success of the Company's Judicial Reorganization. The Company has undertaken to carry out the Capital Increase, to be conducted in accordance with the JR Plan and the applicable legislation, within 90 (ninety) calendar days following the date of the renewal of the concession for electricity distribution of Light SESA. As highlighted in item 2 above, given that the Capital Increase will be carried out through private subscription, in observance of the Preemptive Rights of the Company's existing shareholders to participate in such increase in proportion to their equity interests, any equity dilution will only occur if shareholders fail to exercise their respective preemptive rights in the subscription of the Shares. Should the Company's shareholders fully exercise their respective preemptive rights in the subscription of the new Shares, which is conducted at market conditions, their respective equity interests in the Company's capital stock will be preserved. Inform the calculation criteria for the issue price and justify in detail the economic aspects that determined its choice. The Issue Price was set under the terms of article 170, paragraph 1, item III, of the Brazilian Corporation Law, calculated based on the volume-weighted average price (VWAP) of trading of Light's Shares on B3 - S.A. Brasil, Bolsa, Balcão (" B3 ") over the 60 (sixty) trading sessions immediately preceding February 23, 2024 (inclusive), and was set without unjustified dilution for the Company's existing shareholders. The members of the Board of Directors consider that the share price criterion most adequately reflects the market value of the shares, given that the Company's shares are traded with significant average daily trading volumes (ADTV) on B3, and was set and approved under the JR Plan, considering the overall context of the Company's financial restructuring. If the issue price was set at a premium or discount to market value, identify the reason for the premium or discount and explain how it was determined. Not applicable, as no premium or discount was applied to the market value of the shares issued by the Company, in accordance with the criteria adopted by management. Provide copies of all appraisal reports and studies that supported the determination of the issue price. No appraisal report was issued to support the determination of the Issue Price. REVOKED Inform the issue prices of shares in capital increases carried out in the last 3 (three) years. The Company has not carried out any capital increase in the last 3 (three) years. Present the potential dilution percentage resulting from the issuance. The potential dilution percentage resulting from the issuance of the Shares, in the context of the Capital Increase, for shareholders who do not subscribe for any shares, will be at least 29.91%, considering the Minimum Subscription, and at most 39.03%, considering the Maximum Subscription. The potential dilution percentage resulting from the issuance of the Shares, in the context of the Capital Increase, for shareholders who do not subscribe for any shares, considering the Maximum Subscription and the maximum number of Shares that may be issued upon the exercise of all Subscription Warrants, will be 65.76%. The dilution percentages were calculated considering all shares issued by the Company outstanding as of this date. The potential dilution percentage resulting from the issuance of the Shares, in the context of the Capital Increase, for shareholders who do not subscribe for any shares, considering (i) the Maximum Subscription; (ii) the maximum number of Shares that may be issued upon the exercise of all Subscription Warrants; and (iii) the issuance of all shares to be issued under the issuances approved at the Board of Directors meeting held on October 24, 2024, namely: (iii.a) 132,053,914 convertible debentures into shares, of the unsecured class, in a single series, for private placement, of the Company, intended for Unsecured Creditors (as defined in the JR Plan) who have elected the payment option intended for Converting Supporting Creditors (as defined in the JR Plan) (" Convertible Debentures " and " Convertible Debentures Issuance "); (iii.b) 132,053,914 subscription warrants, registered and book-entry, as an additional benefit to the Convertible Debentures; and (iii.c) 42,669,679 subscription warrants, registered, book-entry, intended for Unsecured Creditors holding Notes Subject to the SESA Restructuring (as defined in the JR Plan), and (iv) the issuance of shares resulting from the potential exercise of all options granted under the Company's stock option plans, will be 77.55%. Fractional shares resulting from the calculation of the subscription right exercise percentage, as well as the right to subscribe for unsubscribed shares or any pro rata allocation of shares, will be disregarded. Such fractions will subsequently be grouped into whole numbers of shares and will be subject to the unsubscribed shares allocation, and may be subscribed by subscribers who express their interest in the unsubscribed shares during the subscription period. Inform the terms, conditions and form of subscription and payment of the shares issued. Preemptive rights will be ensured to the current shareholders holding common shares issued by the Company for the subscription of the Shares to be issued, in proportion to their equity interests in the Company's capital stock at the close of trading on May 19, 2026 (" Record Date "), to, through the exercise of preemptive rights, subscribe for Shares, within 30 (thirty) calendar days, commencing on May 20, 2026 (inclusive) and ending on June 18, 2026 (inclusive) (" Preemptive Right Exercise Period " and "Preemptive Right", respectively). The shares issued by the Company will trade ex-preemptive rights as from May 20, 2026 (inclusive). Considering the Maximum Capital Increase Amount, shareholders may exercise their respective preemptive rights in the proportion of 64.010296629% over the number of shares issued by the Company held by the respective shareholder on the Record Date, considering the transactions executed on such date. Fractions of shares resulting from the calculation of the percentage for the exercise of the preemptive right will be disregarded. Such fractions will subsequently be grouped into whole numbers of shares and will be subject to the allocation of unsubscribed shares, and may be subscribed by shareholders who express interest in such unsubscribed shares during the subscription period. The Shares will be paid in cash by investors exercising their respective Preemptive Rights, in Brazilian currency, at the time of subscription, subject to the rules and procedures of Banco Bradesco S.A., as the institution responsible for the bookkeeping of shares issued by the Company (" Bookkeeper "), and the Central Securities Depository of B3 (" Central Depository "). The procedures required for the exercise of preemptive rights are set forth below: Holders of Preemptive Rights held in custody at the Central Depository who wish to exercise their respective Preemptive Rights shall contact their custodians and do so in accordance with the rules established by the Central Depository itself. Holders of Preemptive Rights whose securities are held with the Bookkeeper and who wish to exercise their respective Preemptive Rights to subscribe for the Shares must, within the Preemptive Right Exercise Period, go to one of the Bookkeeper's branches, carrying the documents listed below. On that occasion, they must complete and sign the subscription ballot, in accordance with the template to be made available by the Bookkeeper, and make payment of the Issue Price of the Shares in full, in Brazilian legal tender, and comply with the procedures adopted by the Bookkeeper at the time of the exercise of the preemptive right. Documentation for Subscription and Assignment of Subscription Rights at the Bookkeeper. Holders of Preemptive Rights relating to the Company's common shares whose securities are held with the Bookkeeper and who wish to exercise or assign such rights, directly through the Bookkeeper, must present the following documents: Individual : (a) identity document (RG or RNE); (b) proof of registration with the Individual Taxpayer Registry of the Ministry of Finance (CPF/MF); and (c) proof of residence; Legal Entity : (a) original and copy of the bylaws and minutes of election of the current officers or authenticated copy of the articles of association or consolidated bylaws and minutes of election of the current officers; (b) proof of registration with the National Registry of Legal Entities of the Ministry of Finance (CNPJ/MF); (c) authenticated copy of the corporate documents evidencing the powers of the signatory of the subscription ballot; and (d) authenticated copy of the identity document, CPF/MF, and proof of residence of the signatory(ies). Representation by Power of Attorney : In this case, the public power of attorney instrument with specific powers must be presented, together with the documents mentioned above, as applicable, of the grantor and the attorney-in-fact. Investors resident abroad may be required to present other representation documents, pursuant to applicable legislation. In case of doubts, shareholders may contact the Bookkeeper, on business days, from 9:00 a.m. to 6:00 p.m., at the following telephone number: 0800 701 1616. Banco Bradesco S.A. Shares and Custody Department Phone: 0800 701 1616 E-mail: [email protected] Address: Cidade de Deus, s/n, Prédio Amarelo, Vila Yara, Osasco, SP, Zip Code 06029-900 The signing of the subscription ballot shall constitute an irrevocable and irreversible expression of the subscriber's intent to acquire the subscribed Shares, giving rise to the subscriber's irrevocable and irreversible obligation to fully pay them in. The preemptive right may be freely assigned by the Company's shareholders to third parties, pursuant to article 171, paragraph 6, of Law No. 6,404. Shareholders holding shares issued by the Company and held in custody with the Bookkeeper who wish to privately assign their preemptive right to subscription must complete the specific ballot that will be available at any branch of the Bookkeeper. Such ballot must be signed and the parties must present the necessary representation documentation. Shareholders whose shares are deposited with the Central Depositary and who wish to trade their subscription rights must contact their custodians. The subscription rights will be admitted for trading on B3, under ticker LIGT1. Shareholders whose shares are deposited with the Central Depositary of Assets and who wish to trade their subscription rights on the stock exchange may place sell orders with their respective brokerage firms. The subscription receipts for Shares subscribed through the exercise of the preemptive right at the Central Depositary of Assets will be available to subscribers by the day following the date of payment of the respective Shares. The subscription receipts for Shares subscribed through the exercise of the preemptive right with the Bookkeeper (book-entry environment) will be available to subscribers immediately after the signing of the subscription ballot and the respective payment of the subscription price. The subscription receipts will not be tradable on B3 until the date of ratification of the capital increase. The subscribed Shares will be credited in the name of the subscribers within up to 3 (three) business days after ratification of the Capital Increase by the Board of Directors. Trading of the new Shares on B3 will begin after ratification of the Capital Increase by the Board of Directors, which will be duly informed to the Company's shareholders, subject to the Lock-up periods set forth in item 4. (III) above. Inform whether shareholders will have preemptive rights to subscribe for the new shares issued and detail the terms and conditions to which such right is subject. The preemptive right to subscribe for the Shares subject to the Capital Increase shall be assured to the Company's shareholders, subject to the procedures established by the Bookkeeper and by the Central Depositary of Assets. Inform the management's proposal for the treatment of any unsubscribed shares. Shareholders or assignees of preemptive right must express their interest in reserving any Shares that are not subscribed during the Preemptive Right Exercise Period (" Unsubscribed Shares ") in the respective share subscription ballot. After the end of the Preemptive Right Exercise Period, any Unsubscribed Shares will be allocated among the shareholders or assignees of preemptive right who have expressed interest in reserving Unsubscribed Shares in the respective subscription ballot. The Company will publish a new notice to shareholders informing the number of Unsubscribed Shares, and shareholders or assignees of preemptive right will have a period of up to 5 (five) business days, counted from the date of publication of such notice to shareholders, to subscribe the Unsubscribed Shares for which they have expressed interest, by completing and signing a new subscription ballot and making the respective payment for the subscribed Unsubscribed Shares. The allocation of the Unsubscribed Shares shall be carried out on a pro rata basis among subscribers who subscribed for Shares during the Preemptive Right Exercise Period and expressed interest in the Unsubscribed Shares, based on the number of Shares effectively subscribed by such subscribers during the Preemptive Right Exercise Period. The proportional percentage for the exercise of the right to subscribe for Unsubscribed Shares to which each subscriber will be entitled shall be determined by dividing the number of Unsubscribed Shares by the total number of Shares subscribed by the subscribers who expressed interest in the Unsubscribed Shares during the Preemptive Right Exercise Period, and multiplying the resulting quotient by 100 (one hundred). At the time of subscription of the Unsubscribed Shares, the subscriber may express interest in subscribing an additional number of Unsubscribed Shares, subject to the availability of such Unsubscribed Shares (" Additional Unsubscribed Shares "). Accordingly, the number of Shares subscribed during the Unsubscribed Shares subscription period may exceed the number of Unsubscribed Shares to which each subscriber is entitled based on the proportional percentage described in the paragraph above, subject to the limit of available Unsubscribed Shares. Requests for subscription of Additional Unsubscribed Shares will be fulfilled only if, after the proportional subscription of Unsubscribed Shares, there remain Unsubscribed Shares that were not subscribed, which will be allocated solely among the subscribers who opted for the acquisition of Additional Unsubscribed Shares, it being certain that no new period will be opened for the subscriber to express interest in this regard. If the number of requests for Additional Unsubscribed Shares is lower than the number of available Additional Unsubscribed Shares, the requests for Additional Unsubscribed Shares will be fully satisfied. If the number of requests for Additional Unsubscribed Shares exceeds the number of available Additional Unsubscribed Shares, the Company will allocate the Additional Unsubscribed Shares at its sole discretion and in a manner that ensures that all Additional Unsubscribed Shares are subscribed; while seeking to observe that: if the maximum number of Additional Unsubscribed Shares requested by the subscriber is equal to the number of Unsubscribed Shares to which the subscriber is entitled based on its effective proportional participation in the Unsubscribed Shares, the subscriber shall be allocated exactly the number of Additional Unsubscribed Shares requested by the subscriber; if the maximum number of Additional Unsubscribed Shares requested by the subscriber exceeds the number of Additional Unsubscribed Shares to which the subscriber is entitled based on its effective proportional participation in the Unsubscribed Shares, the subscriber shall initially be allocated only the number of Additional Unsubscribed Shares to which it is entitled based on its proportional participation in the Unsubscribed Shares effectively subscribed, it being certain that the number of Additional Unsubscribed Shares may be increased up to the maximum number of Additional Unsubscribed Shares requested by the subscriber in order to ensure that all Additional Unsubscribed Shares are allocated; and if the maximum number of Additional Unsubscribed Shares requested by the subscriber is lower than the number of Unsubscribed Shares to which the subscriber is entitled based on its effective proportional participation in the Unsubscribed Shares, the subscriber shall be allocated exactly the number of Additional Unsubscribed Shares requested at the time of subscription of the Unsubscribed Shares. If Shares remain unsubscribed after the procedure described above, the Company will not hold an auction of the Unsubscribed Shares and will partially ratify the Capital Increase with the cancellation of the remaining unsubscribed Shares, in accordance with the procedures described below. Describe in detail the procedures to be adopted in the event of partial ratification of the capital increase. Considering the possibility of partial ratification of the Capital Increase, each subscriber may, at the time of subscription, condition the subscription of the number of common shares to which it is entitled: (a) upon the subscription of the Maximum Capital Increase Amount; or (b) upon the subscription of a certain minimum Capital Increase amount, provided that such minimum amount is not lower than the Minimum Capital Increase Amount, and, in the latter case, must indicate whether it wishes to receive: (1) all of the common shares subscribed by it; or (2) the quantity equivalent to the proportion between the total number of Shares effectively subscribed and the Maximum Number of Shares. In the absence of any manifestation by the subscriber, the subscriber shall be presumed to be interested in receiving all of the Shares subscribed by it. In any event, the subscriber's option shall be final and irreversible, and may not be subsequently changed. If the subscriber has conditioned its subscription, the subscriber must indicate in the subscription ballot the following information, so that the Company may return the corresponding amounts, if applicable: the bank, branch, checking account, its name or corporate name, its CPF/MF or CNPJ/MF, its address, and telephone number. The Company's shareholders and/or assignees of preemptive right for the subscription of Shares who condition their participation in the Capital Increase on partial ratification and have all or part of their subscription cancelled will receive back the amounts paid by them corresponding to the total or the portion of the cancelled subscription, without interest or monetary adjustment, without reimbursement, and with the deduction, if applicable, of the amounts related to applicable taxes. Since, during the Preemptive Right Exercise Period, shareholders will have the possibility, at the time of execution of the subscription ballot, to condition their subscription on the hypotheses described above, there will be no final deadline for investment review, and shareholders must therefore express their decision in advance at the time of subscription. If the issue price of the shares may be paid, in whole or in part, in assets: (a) present a complete description of the assets to be accepted; (b) clarify the relationship between the assets and the corporate purpose; and (c) provide a copy of the appraisal report of the assets, if available. Not applicable. Additional Information. Subscription Warrants Subscription warrants, all of them registered and book-entry (" Subscription Warrants "), will be granted as an additional benefit to subscribers of the Shares issued in the Capital Increase, at a ratio of 2 (two) Subscription Warrants for each 1 (one) new Share subscribed in the Capital Increase. Each Subscription Warrant shall grant its holder the right to subscribe for 1 (one) common, all registered, book-entry, no par value share issued by the Company (" Warrant Shares "), with the main characteristics described below: Number of Subscription Warrants to be issued. A minimum of 317,965,024 (three hundred seventeen million, nine hundred sixty-five thousand, twenty-four) Subscription Warrants (" Minimum Number of Subscription Warrants ") and a maximum of 476,947,536 (four hundred seventy-six million, nine hundred forty-seven thousand, five hundred thirty-six) Subscription Warrants will be issued, at the ratio of 2 (two) Subscription Warrants for each 1 (one) new Share subscribed in the Capital Increase. Issue Price of the Subscription Warrants. The Subscription Warrants will be issued free of charge, since they will be granted as an additional benefit to subscribers of the Shares issued in the Capital Increase, with the purpose of encouraging participation in the Capital Increase and maximizing the Company's fundraising. Right to subscribe for shares resulting from the exercise of the Subscription Warrants. Each Subscription Warrant shall grant its holder the right to subscribe 1 (one) common, all registered, book-entry, no par value share issued by the Company, subject to the terms described in the item below (" Warrant Shares "); Characteristics of the Warrant Shares and Lock-up. The Warrant Shares, once subscribed and fully paid by their holders, in accordance with the terms set forth in the Subscription Warrant instrument, shall have the same political and economic rights and the same advantages and benefits attributed to the Company's common shares outstanding on the date of issuance of the Warrant Shares, and shall be subject to the provisions of the Company's Bylaws and of the PRJ, including the trading restriction period applicable to the Warrant Shares provided for in Clause 5.1.8 of the PRJ, pursuant to the schedule set forth below, it being certain that the release of each batch of Warrant Shares subject to Lock-up for trading shall occur automatically by the Bookkeeper or by B3, as the case may be. Lock-Up Amount (%) First Business Day of each month indicated below (from Exercise Date) Released percentage (%) 1 Total Released (%) 100% 1 st month 0% 0% 85% 6 th month 15% 15% 70% 12 th month 15% 30% 55% 18 th month 15% 45% 40% 24 th month 15% 60% 0% 30 th month 40% 100% 1 Any fractional shares resulting from the application of the percentages above will be disregarded for purposes of determining the number of shares to be released in each period, and such fractions will be carried over to the subsequent release period. The Shares will be credited in the name of the subscribers within up to 3 (three) business days after ratification of the Capital Increase by the Board of Directors. The effective dates for the release of the Lock-up for trading will be disclosed by the Company after ratification of the Capital Increase. Form of exercise. The Subscription Warrants may be exercised during the Exercise Period (as defined below). Holders of the Subscription Warrants must inform the Company of their intention to exercise their Subscription Warrant(s), such exercise to be formalized in accordance with the rules and procedures of the Bookkeeper and of B3, which will be disclosed in a notice to shareholders to be duly published by the Company. Exercise Price. The exercise price of each of the Warrant Shares shall be R$ 0.01 (one Brazilian cent) (the "Exercise Price"). Exercise Period. The Subscription Warrants will be exercisable for a period of 30 (thirty) days as of the ratification of the Capital Increase, the start and end dates of which shall be duly disclosed to shareholders in due course (" Exercise Period "). After the Exercise Period, the Subscription Warrants shall expire by operation of law. Trading. The Subscription Warrants will not be tradable. Other information. Other information regarding the Subscription Warrants is available in the RCA. The Company's Investor Relations Department is available for any clarifications that may be necessary related to the subject matter of this Notice to Shareholders, through the email [email protected] . Rio de Janeiro, May 14, 2026. Leonardo Pimenta Gadelha Chief Financial and Investor Relations Officer LIGHT S.A. - UNDER JUDICIAL REORGANIZATION

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