Madrid, March 2^nd 2023: EDP Renováveis S.A. (“EDPR”) is today disclosing its Business Plan 2023-2026 to the market in the Capital Markets Day, in which it announces that it intends to invest ~€20 billion to deploy ~17 GW of renewables additions until 2026.

To partially finance the updated investment plan, EDPR intends to raise equity, through the increase of share capital. The launch and completion of this transaction will be subject to corporate approvals and favourable market conditions being met.

EDPR entered into an investment agreement (“IA”) on March 1st, 2023 with Lisson Grove Investment Pte. Ltd., an affiliate of GIC Pte Ltd (“GIC”), pursuant to which the latter committed to subscribe ~€1.0 billion, subject to the terms of the IA, market conditions and to a standard lock-up period of 90 days, at a price between €19.25 and €20.50 to be finally determined when the equity raise is launched. Under the IA, out of the ~€1.0 billion to be subscribed by GIC, EDPR has the option to reallocate up to ~€0.15 billion which EDPR may offer to a selected number of institutional investors at the same price agreed with GIC.

The commitment by GIC to subscribe shares in EDPR shall be subject to the decision of EDPR to launch the transaction at an appropriate time vis-à-vis market conditions.



EDP Renováveis, S.A.


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