EDP Renováveis to study the development of a complementary Asset Rotation program

This release is not for release, publication or distribution, directly or indirectly, in Australia, Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, Japan, South Africa or the United States.

Madrid, June 22th 2015: EDP Renováveis, S.A. (“EDPR”) has been consistently delivering on the strategic agenda announced to the market in May-2014, namely by securing long-term contracts for the 2014-17 expected capacity growth along with a self-funding strategy through the execution of its Asset Rotation program, pursuant to which EDPR has sold minority stakes in certain renewable generation assets to institutional investors.

During an improved macroeconomic period, EDPR’s Asset Rotation program has enabled the company to (i) monetise and crystallise the value of its operating projects’ future cash-flow stream; and (ii) re-invest the proceeds in the development of quality and value accretive projects. As EDPR seeks to continue developing additional growth opportunities within its current geographic footprint and new geographies, and in order to maintain its selffunding strategic pillar, the company is considering the possibility of expanding the scope of its Asset Rotation program.

As such, EDPR has decided to mandate Citigroup Global Markets Limited and UBS Investment Bank to evaluate alternatives to efficiently monetise and rotate its assets, focusing on the particular possibility of establishing a YieldCo composed by European wind generation assets to be listed on the Spanish stock exchange.

A YieldCo is a publicly listed vehicle that owns and manages a portfolio of operational assets with contracted and/or regulated revenues, which aims to maximize cash distributions to its shareholders and grow such distributions through accretive asset acquisitions.

EDP Renováveis, S.A.

This release (i) describes a decision to evaluate certain monetization and asset rotation alternatives, and is not an offer for sale of securities in any jurisdiction, including Australia, Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, Japan, South Africa or the United States, and (ii) is only being published in the Portuguese Securities Market regulator’s web site pursuant to Portuguese law requirements on information disclosure and is only directed at, and any investment or investment activity to which this document may relate to is available only to or will be engaged in only with, persons to whom it may lawfully be communicated, including persons having professional experience in matters relating to investments under the United Kingdom Financial Services and Markets Act 2000 and (Financial Promotion) Order 2005.