Process to determine remuneration

The overall remuneration of the members of the Board of Directors, the Supervisory Board and the Statutory Board is determined annually at the Annual General Meeting, in accordance with our Remuneration Policy. It is worth noting that the remuneration practices adopted by Norte Energia also follow the criteria and recommendations of the IBGC and the Brazilian Corporate Governance Code.  

The Management Committee analyzes the global annual remuneration proposal, prepared based on the Remuneration Policy, prior to submitting it to the Board of Directors for analysis by the competent approval body:  The General Shareholders Meeting. The Management Committee is composed of members appointed by shareholders who hold at least a 9% stake in Norte Energia’s share capital, as defined in the Shareholders Agreement.  

Severance pay 

For the Statutory Board, severance payments are governed by contract terms. As provided in a specific clause, the professional is be entitled to:   

• Monthly remuneration due by the end of the 60-day notice period.  
• Proportional (pro rata) payment of monthly remuneration.  
• Paid leave.  
• Variable compensation.  

In the event of a change in the Company’s shareholding control, the professional will be entitled to compensation equivalent to the residual value of the contract, limited to six monthly payments. 

The remuneration proposal for 2024 was adopted by consensus of the shareholders present at the 13th Annual General Meeting of Norte Energia, held on April 30, 2024, as recorded in the minutes. Remuneration consultants did not participate in the preparation of the proposal, which followed the criteria established in the Remuneration Policy.