Madrid, February 27^th 2024: The Board of Directors (“BoD”) of EDP Renováveis, S.A. (“EDPR”) has decided to propose in the 2024 Ordinary General Shareholders’ Meeting (“GSM”), as it did in 2023, a flexible remuneration program for shareholders in the form of a scrip dividend, replacing the ordinary dividend corresponding to fiscal year 2023 with the issuance of new paid-up shares, while keeping the option for shareholders to receive cash, to be followed by a BoD resolution defining the final terms of the program and its implementation.

Following approval by the GSM and launch of the program by the BoD - which may occur within a maximum term of one year following the GSM resolution - EDPR shareholders will therefore be allocated with incorporation rights which will be listed in Euronext Lisbon stock exchange, and shareholders will be able to freely choose between the following different options or combine them at their own convenience:

a) not to sell all or part of their incorporation rights to EDPR or in Euronext Lisbon stock exchange. In this case, at the end of the trading period the shareholders shall receive the relevant number of newly issued paid-up shares corresponding to the number of incorporation rights held by them.

b) to sell all or part of the incorporation rights, originally attributed to them, to EDPR at a guaranteed fixed price. Thus, the shareholders who choose this option would receive a remuneration in cash instead of newly issued paid-up shares.

c) to sell all or part of their incorporation rights in Euronext Lisbon stock exchange. Shareholders choosing this option will also be given the ability to monetize all or part of their incorporation rights, but in this case, they would receive a compensation in cash for the sale of the incorporation rights equivalent to their trading price in the market. Incorporation rights acquired in Euronext Lisbon may not be sold on to EDPR.

The commencement of the program will require that a document containing information on the number and nature of the shares and the reasons for and details of the attribution of incorporation rights is first made available to shareholders, pursuant to the provision of article 1(5)(g) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, which EDPR will release following the resolution of the BoD to implement the resolution of the GSM and the share capital increase and prior to the commencement of trading of the incorporation rights.

With this program, EDPR aims to continue providing a flexible and competitive remuneration to its shareholders, aligned with the market and with its dividend policy of a 30-50% payout ratio. Please contact dividendos@edpr.com if further information is needed.

This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.


EDP Renováveis, S.A.