Court ends Light's bankruptcy protection scheme after three years.

The Rio de Janeiro court has decreed the termination of Light SA's judicial reorganization, after recognizing that the obligations foreseen in the restructuring plan, which should have been verified during the judicial oversight period, had been met.

The decision was issued by the 3rd Business Court of the Capital District of the State of Rio de Janeiro and had favorable opinions from the Judicial Administration and the State Public Prosecutor's Office.

O The judicial reorganization process began in 2023., amidst the company's financial restructuring process. The plan approved by creditors in 2024 involved approximately R$ 11 billion in debt.

The period for monitoring the obligations took place between June 18, 2024, and June 18, 2026. In July, the distributor He asked the court to terminate the judicial reorganization process. and, with the recognition of the fulfillment of the commitments required in that period, the Judiciary He brought the process to an end.

Restructuring involved paying creditors.

Among the measures implemented during the judicial reorganization were the upfront payment to more than 27 creditors with claims of up to R$ 30, in addition to the issuance of new debt instruments and the restructuring of bonds issued abroad.

The process also involved a capital increase related to the renewal of the concession for Light SESA (Light Serviços de Eletricidade), a company in the group responsible for energy distribution.

The conclusion of the judicial reorganization process, however, does not mean that all commitments foreseen in the plan have ended. Some obligations have due dates after the monitoring period and remain in effect.

These include the mandatory conversion of certain debentures into shares, the exercise of subscription warrants, and the transfer of funds from the capital increase to Light SESA.

The ruling also stipulated that the company remove the phrase "Under Judicial Reorganization" from its acts, contracts, and documents. According to Light, the company will continue to keep shareholders and the market informed about any developments related to the matter.

Light serves approximately 4,5 million customers.

The Light Group operates in the segments of power generation, transmission, distribution, and commercialization. Light SA is the group's holding company, while distribution is carried out by Light Serviços de Eletricidade. The concession area covers 31 municipalities in Rio de Janeiro, including the Metropolitan Region.

Currently, Light states on its institutional website that it serves approximately 4,5 million customers. The company affirmed that the full text of the ruling regarding the conclusion of the judicial reorganization will be made available through its Investor Relations channels and on the systems of the CVM (Securities and Exchange Commission of Brazil) and B3 (Brazilian Stock Exchange).

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