ENERGY CO OF PARANA

Companhia Paranaense de Energia – Copel American Depositary Receipt is a financial instrument representing shares of a major Brazilian utility company. The ADR enables investors outside Brazil to gain exposure to Copel, which is engaged in electricity generation, transmission, distribution, and sale, as well as piped natural gas distribution. Copel operates a diverse portfolio of hydroelectric, wind, and thermal power plants and manages extensive transmission and distribution networks, primarily serving the State of Paraná and parts of Santa Catarina. Founded in 1954 and headquartered in Curitiba, Copel is a key player in Brazil's regulated electric utilities sector. The American Depositary Receipt structure facilitates international trading of Copel’s shares by encapsulating multiple underlying common shares into each ADR, thereby broadening the investor base and enhancing liquidity. These ADRs serve both institutional and retail investors seeking diversified access to the Latin American energy sector and play an important role in connecting Brazilian corporate assets to global capital markets.