Madrid, January 19^th 2021: EDP Renováveis, S.A. ("EDPR") informs about a resolution approved by EDPR´s Board of Directors in the meeting held today:

After the public communication of António Mexia and João Manso Neto about their no availability to be re-elected for their positions in EDP and following the appointment today by EDP’s shareholders of a new Executive Board of Directors team at EDP, and taking in consideration that both informed today that they will put their positions at the disposal of the Board, the Board of EDPR has agreed to cease António Mexia as Chairman of EDPR´s Board, and João Manso as Vice-Chairman of EDPR´s Board and CEO of EDPR.

EDPR would like to thank António Mexia and João Manso Neto for their enormous dedication and contribution to the company, for the definition and implementation of a sustainable growth strategy, that brought EDPR to be a leader in the renewables’ sector, clearly and greatly valued by the company’s stakeholders.

In addition, EDPR informs that has received the following resignations as members of EDPR’s Board of Directors:

• Francisca Oliveira, with effect from December 30th 2020 (was also member of EDPR’s Audit, Control and Related Party Transactions Committee);
   
• Duarte Bello, with effect from January 19th 2021 (was also member of the Executive Committee);
   
• Spyridon Martinis, with effect from January 19th 2021 (was also member of the Executive Committee);
   
• Miguel Angel Prado, with effect from the next General Shareholders Meeting (was also member of the Executive Committee).
   

To fulfil the vacant positions, EDPR’s Board has co-opted:

• Miguel Stilwell de Andrade, as Executive Director;
   
• Ana Paula Marques, as Non-executive Director;
   
• Joan Avalin Dempsey, as Non-executive and Independent Director.

Furthermore, EDPR’s Board has appointed Miguel Stilwell de Andrade as Chairman of EDPR´s Board and CEO of EDPR and Rui Teixeira, currently EDPR’s Executive Director and Consejero Delegado, as CFO of the company.

To better maximize EDPR’s Board participation in the management of the company, the Board has decided to eliminate the Executive Committee body, which included up to now Executive Board members of the company, whose executive staff will now be integrated in a Management Team composed by:

• Miguel Stilwell de Andrade, CEO;
   
• Rui Teixeira, CFO;
   
• Duarte Bello, COO Europe and Brazil;
   
• Miguel Angel Prado, COO North America;
   
• Spyridon Martinis, CDO & COO Offshore.
   

To cover the vacant position in the EDPR’s Audit, Control and Related-Party Transactions Committee, following the resignation from Francisca Oliveira, EDPR´s Board of Directors has agreed to name Francisco Seixas da Costa as member of such Committee.

Following this appointment, EDPR’s Audit, Control and Related-Party Transactions Committee is composed by:

• Acácio Jaime Liberado Mota Piloto (Chairman);
   
• António do Pranto Nogueira Leite;
   
• Francisco Seixas da Costa.

With this resolution, EDPR’s Audit, Control and Related-Party Transactions continue to be composed only by independent members.

Lastly, the Board of Directors has agreed that a General Shareholders’ Meeting will be summoned for the February 22nd with the following agenda:

• Ratification of co-opted Directors;
   
• Deliberate on the termination of members of the Board of Directors;
   
• Establishment of the number of Board Members in 12;
   
• Amendment to the By-Laws to eliminate the role of the Chairman of the Shareholders’ Meeting, and allow the Shareholders Meeting to be chaired by the Board of Directors Chairman;
  ​​​​​​​
• Delegation of powers.
  
   

EDP Renováveis, S.A.