Centrais Elétricas Brasileiras S.A. - Eletrobrás (BOVESPA:ELET6) announces a share repurchase program. Under the program, the company will repurchase up to 202,111,946 shares, representing 10% of its issued share capital. The acquired shares will be held in treasury for sale or cancellation.

The shares will repurchased at prices more than 10% higher, in the case of acquisition, or more than 10%lower, in the case of sale, to the average quotation, weighted by volume, in the 10 previous trading sessions. The funds eventually earned will be allocated to the company's social activities. In addition, treasury shares may be used to meet the Compensation Plans Based on Stock Options and Compensation Based on Restricted Shares, to settle obligations arising from its liabilities related to lawsuits that discuss the difference in monetary restatement of Compulsory Energy Loan (“ECE”) credits or the constitutionality of the tax.

Operations carried out under the Buyback Plan will be supported by the global amount of the Company's Profit Reserves. The program is valid for 18 months. As of January 3, 2023, the company had 2,021,119,463 common shares and 275,526,814 preferred B shares outstanding and no treasury shares.