Eneva S A : Increase of Capital Stock due to Stock Option or Subscription of Shares Plan of Eneva S.A.

ENEVA S.A.

National Corporate Taxpayers Register (CNPJ) No. 04.423.567/0001-21

State Registration Number (NIRE) 33.3.0028402-8

Publicly Held company

Notice to Shareholders

Increase of Capital Stock due to Stock Option or Subscription of Shares

Plan of Eneva S.A.

Rio de Janeiro, May 20, 2021 - ENEVA S.A. ("ENEVA" or "Company") (B3: ENEV3), communicates its shareholders and the market in general, pursuant to Art. 30 of CVM Instruction 480/14, as amended, the information required in Schedule 30-XXXII of said Instruction, on the increase in capital within the authorized capital limit, approved at the Board of Directors' Meeting held on May 19, 2021, resulting from the exercise of options granted to certain manager within the scope of the Company's Second Stock Option or Subscription of Shares (the "SecondPlan") approved by the Board of Directors, referring to "Stock Option or Subscription of Shares Program of ENEVA S.A." approved by the Extraordinary General Meeting held on August 02, 2016, as follows:

1. Date of general shareholders' meeting when the stock option was approved
   The Second Plan was approved at the meeting of the Company's Board of Directors held on May 10, 2017, as amended, and prepared based on the "Stock Option or Subscription of Shares Program of ENEVA S.A.", approved by the Company's shareholders at the Extraordinary General Meeting held on August 02,
   2016.

1. Value of the capital increase and of the new capital stock
   The amount of the increase was R$12,714,424.73 (twelve million, seven

hundred fourteen thousand, four hundred and twenty-four reais and seventy-three cents). The Company's capital stock now stands at R$8,929,765,308.94 (eight billion, nine hundred and twenty-nine million, seven hundred and sixty-five thousand, three hundred and eight reais and ninety-four cents).

1. Number of shares issued of each kind and class

784,115 (seven hundred and eighty-four thousand, one hundred and fifteen) registered, book-entry common shares without par value were issued.

IV. Subscription price of new shares:

The issue price of the registered common shares issued is R$16.2150 (sixteen reais and two thousand one hundred and fifty thousandths of reais) per share, calculated under the terms of the Second Plan.

1. Price of each type and class of the issuer shares in the markets where the shares are being traded:

1. Minimum, average and maximum price for each year, for the last 3 (three) years

Price	2020 (R$)	2019 (R$)	2018 (R$)
Maximum	15.53	10.94	4.03
Average	11.49	6.32	3.36
Minimum	6.78	4.18	2.86

For comparability purposes, all the historical values in the table above have been retroactively adjusted to reflect the stock split in the proportion of 01 (one) share to 04 (four) shares, approved at the Extraordinary General Meeting which took place on March 11, 2021, with effects from March 12, 2021.

1. Minimum, average and maximum price for each quarter, for the last 2 (two) years

Price	1Q21	4Q20	3Q20	2Q20	1Q20	4Q19	3Q19	2Q19	1Q19
	(R$)	(R$)	(R$)	(R$)	(R$)	(R$)	(R$)	(R$)	(R$)
Maximum	18.61	15.53	13.04	11.25	12.08	10.94	7.67	6.03	4.78
Average	16.70	13.72	12.34	9.35	10.50	8.81	6.59	5.27	4.56
Minimum	14.85	11.50	11.60	8.09	6.78	7.29	6.17	4.63	4.18

For comparability purposes, all the historical values in the table above have been retroactively adjusted to reflect the stock split in the proportion of 01 (one) share to 04 (four) shares, approved at the Extraordinary General Meeting which took place on March 11, 2021, with effects from March 12, 2021.

1. price minimum, average and maximum of each month over the last 6 six months:

Price	April/21	March/	February/	January/	December/	November/
	(R$)	21 (R$)	21 (R$)	21 (R$)	20 (R$)	20 (R$)
Maximum	18.06	17.10	18.61	16.99	15.53	15.00
Average	16.26	16.41	17.75	16.07	14.34	14.42
Minimum	14.67	15.20	16.62	14.85	13.75	13.81

For comparability purposes, all the historical values in the table above have been retroactively adjusted to reflect the stock split in the proportion of 01 (one) share to 04 (four) shares, approved at the Extraordinary General Meeting which took place on March 11, 2021, with effects from March 12, 2021.

1. Average price of the shares, over the last 90 days. R$16.48

For comparability purposes, all the historical values used to calculate the average price over the last 90 days were retroactively adjusted to reflect the stock split in the proportion of 01 (one) share to 04 (four) shares, approved at the Extraordinary General Meeting which took place on March 11, 2021, with effects from March 12, 2021.

VI. Potential dilution percentage resulting from the issuance:

0.061935%

Rio de Janeiro, May 20, 2021.

Marcelo Habibe

Chief Financial and Investor Relations Officer