Investor Presentation

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November 2021

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#1Investor Presentation Lisbon, November 2021 WIGER#2Disclaimer edp This document has been prepared by EDP - Energias de Portugal, S.A. (the "Company") solely for use at the presentation to be made on this date and its purpose is merely of informative nature and, as such, it may be amended and supplemented and it should be read as a summary of the matters addressed or contained herein. By attending the meeting where this presentation is made, or by reading the presentation slides, you acknowledge and agree to be bound by the following limitations and restrictions. This presentation may not be distributed to the press or to any other person in any jurisdiction, and may not be reproduced in any form, in whole or in part for any other purpose without the express and prior consent in writing of the Company. This presentation and all materials, documents and information used therein or distributed to investors in the context of this presentation do not constitute or form part of and should not be construed as, an offer (public or private) to sell or issue or the solicitation of an offer (public or private) to buy or acquire securities of the Company or any of its affiliates or subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction. Neither this presentation nor any materials, documents and information used therein or distributed to investors in the context of this presentation or any part thereof, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever and may not be used in the future in connection with any offer (public or private) in relation to securities issued by the Company. Any decision to invest in any securities of the Company or any of its affiliates or subsidiaries in any offering (public or private) should be made solely on the basis of the information to be contained in the relevant prospectus, key investor information or final offering memorandum provided to the investors and to be published in due course in relation to any such offering and/or public information on the Company or any of its affiliates or subsidiaries available in the market. Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements are statements other than in respect of historical facts. The words "believe," "expect," "anticipate," "intends," "estimate," "will," "may", "continue," "should" and similar expressions usually identify forward-looking statements. Forward-looking statements include statements regarding: objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; economic outlook and industry trends; energy demand and supply; developments of the Company's markets; the impact of legal and regulatory initiatives; and the strength of the Company's competitors. The forward-looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Important factors that may lead to significant differences between the actual results and the statements of expectations about future events or results include the company's business strategy, financial strategy, national and international economic conditions, technology, legal and regulatory conditions, public service industry developments, hydrological conditions, cost of raw materials, financial market conditions, uncertainty of the results of future operations, plans, objectives, expectations and intentions, among others. Such risks, uncertainties, contingencies and other important factors could cause the actual results, performance or achievements of the Company or industry results to differ materially from those results expressed or implied in this presentation by such forward-looking statements. The information, opinions and forward-looking statements contained in this presentation speak only as at the date of this presentation, and are subject to change without notice unless required by applicable law. The Company and its respective directors, representatives, employees and/or advisors do not intend to, and expressly disclaim any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this presentation to reflect any change in events, conditions or circumstances. Investor presentation 2#3We have started this journey in Renewables over 2 decades ago and are committed to continue to lead the Energy Transition edp Leading the energy transition to create superior value By 2025 €24 Bn CAPEX in energy transition 4 GW/yr renewables deployed By 2030 >50 GW renewables additions 100% renewables generation Changing Tomorrow Now Double solar+wind installed capacity 100% energy transition EBITDA Coal free Carbon neutral#4Strategic commitments on track as we step up to the challenge to deliver superior value creation edp Accelerated and sustainable growth Key figures and targets €24 Bn CAPEX in energy transition (1) 20 GW gross additions (1) €8 Bn asset rotation Improve financial strength Contracting major equipment upfront at fixed price Future-proof organization Scale-up organization to support growth 9M21 €2.7 Bn (95% in RES + Networks) 8.1GW secured (41%) with 3.9 GW added YTD+U/C ~€2.6 Bn signed (~33% target) ~-€0.1 Bn Net Det ESG excellence and attractive returns Coal free by 2025 Carbon neutral by 2030 €0.19/share dividend floor Coal Revenues 5% 76% Renewables Generation €0.19/share dividend paid April 26th (1) 2021-25. Investor presentation 4#5We will grow our presence across technologies, with differentiating value propositions edp Global leadership Top 4 global player Differentiation Capture repowering, hybridization, and technological developments Å Wind onshore Strong visibility Extensive pipeline with additions ramping up quickly Hydro Mostly maintenance investments Cost competitiveness Solar 20 GW¹ 8.0 9.1 (46%) (40%) Gross additions 2021-25 Focus on procurement synergies and scale Cash generator Manage portfolio for efficiency and value capture Flexibility provider Mature technology, with unique flexibility capacity through pumping capabilities (2.4 GW) Differentiation Future growth Long-term opportunity with medium- term value crystallization Diversified risk & 0.9 0.4 (5%) (2%) 1.4 7% Leverage distinctive go-to-market capabilities Solar DG Wind offshore Leveraging scale and risk diversification through Ocean Winds (50/50 JV with Engie) Storage Capture flexibility value Further develop existing capabilities to meet increasing flexibility needs Renewable H₂ New route to market Leverage existing capabilities to capture new growth 1. EBITDA + Equity GWs Investor presentation 5#6We have +8.1 GW capacity additions secured (41%) evenly split per geography edp 3.1 North America GW 36% secured Europe 2.3 GW 33% secured की 6.7 1.3 GW 0.7 GW 1.5 GW 1.6 GW 0.2 GW post 2025 8.8 20 GW¹ Gross Additions 2021-25 LatAm 65% secured 1.5 GW 1. 0.4 GW EBITDA + Equity GW 1.9 GW 1.4 2.9 GW secured w 0.3 GW 0.5 GW post 2025 APAC 0.7 GW 48% secured 0.7 MW Investor presentation 6#7We will deliver unparalleled investment levels fully aligned with the energy transition Significant investment acceleration... CAPEX¹, € Bn/yr 2.9 2019-22 target +65% 4.8 1 2 3 1. Includes financial investments 2. 3. Includes other and holding CAPEX US, Canada, and Mexico with strong focus on Renewables, across key markets in Europe and North America CAPEX¹, Cumulative, € Bn, 2021-25 ~80% Renewables ~€24 Bn ~15% Networks ~5% Client solutions & Energy mgmt² ~€24 Bn 2021-25 target €21 Bn expansion CAPEX, 95% in Renewables €3 Bn maintenance CAPEX, mostly in Networks ~80% CAPEX in Europe and North America edp ● ~40% Europe ~40% North America³ ~15% Brazil and LatAm ~5% Rest of the world Investor presentation 7#8EDP has secured 8.1 GW whilst maintaining a sound investment approach Continued accelerated growth in renewables... maintaining a selective and disciplined investment approach +2.5 GW (¹) of Wind & Solar Gross capacity Strong execution on capacity deployment added over the last 12 months +2.7 GW Capacity U/C as of Sep-21 ✓ IRR/WACC +8.1 GW (2) Secured for 2021-2025 edp Target Actual >1.4x ~1.45x IRR to WACC spread >200bps ~300bps 75% 41% LT contracts secured: of 2021-23 target of 2021-25 target ✓ NPV/Capex +4.1 GW PPAs under neg. & shortlisted (1) EBITDA MW + Equity MW | (2) including Sunseap >25% ~35% % NPV contracted >60% ~60% 2.8 GW 1.1 GW 0.2 GW Investor presentation 8#9With Sunseap, we set up a 4th regional hub, a platform for long term growth in APAC, becoming a true global clean energy player Global presence through EDPR's installed capacity(¹)... Europe ... with a focus on accelerated and diversified growth APAC By Geography... 6.3 GW 0.5 North America 7.8 GW South America 1.7 Headquarters GW GW SUNSEAP Asia 9% 24% South America 8.1 GW(2) 29% Europe Secured capacity for 2021- 2025 North America 39% Current EDPR presence Current Sunseap presence By Technology... Enterprise value of €870M 0.7 GW operational and secured capacity, with a pipeline of 5 GW throughout 9 markets (Singapore, Vietnam & Others) LT Contracted (~20-year), avg price ~ €75/MWh edp 54% *4% 用 42% Wind Onshore Wind Offshore Solar & Solar DG (1) EBITDA + Equity GW operating and under construction as of Sep-21. Capacity reported in MWac❘ (2) EBITDA + Equity GWs and including Sunseap Investor presentation 9#10Asset rotation execution has been strong with €2.6bn of proceeds secured at attractive multiples and €0.15bn (1) gains already booked Strong AR execution at attractive multiples, showcasing the value of EDPR projects edp Accelerated & sustainable growth EV/MW €m Gain €104m Gain/MW ~€250k €0.5bn 1.7 की 1.25 1.6 H €2.6bn Bright Stalk & Harvest Ridge Indiana CR Wind B&T Wind Portugal Wind Poland Wind Spain Riverstart Solar Indiana CR Solar B&T Total proceeds secured 405 MW 80% 302 MW 100% 221 MW 100% 149 MW 100% 181 MW 200 MWac 100% 80% 200 MWac 100% 1,658 MW Completed Jun- Signed Signed Signed Signed Signed Signed 21 Oct-19 Jul-21 Aug-21 Oct-21 Sep-20 Mar-21 €2.6bn of proceeds, ~33% of €8bn AR target for 2021-25 Attractive multiples with avg. €1.6m/MW (Wind @ €1.7m and Solar @ €1.25m/MW On track to deliver >€300m of capital gains in 2021. Upsize will depend on exact timing of regulatory approvals and closing of each transaction 1. Gains of €151m in 9M21 include i) €104m from Jun-21 US asset rotation deal, ii) €16m contingent price review of Offshore France sell-down transactions iii) €2m price adjustment of Rosewater B&T and iiii) €30m for Mayflower earn-out Investor presentation 10#11We have a policy of contracting major equipment upfront at fixed price mitigating concerns on capex cost inflation Secured Capacity Breakdown % Fully contracted (1) or Higher Capex already embedded in Investment decision edp Recent Auctions already incorporating higher bid prices (e.g. Spain Auction) ~90% Revising Bid prices in PPAs under negotiation and still shortlisted Major equipment partially contracted (2) ~10% Top tier customer for wind and solar equipment with recurrent orders of >1 GW/year both for wind and solar We have a strong position and a privileged relationship with suppliers, and we continue to monitor and manage disruptions to the supply chain Strong returns with spread to WACC >300 bps (1) WTG for wind projects; Modules; Trackers and Inverters for solar projects | (2). Capacity which has Major equipment partially contracted, but not fully Investor presentation 11#12We continue to witness a policy environment highly supportive of the energy transition edp COP 26 GLASGOW Reiterated global commitments in the fight against climate change ASEAN targets 23% of primary energy from RES by 2025 IEA (1) forecast investment needed to reach +1.5ºC Global Annual Investment in Clean Energy $4 Tn/Year by 2030 (vs. $1Tn/Year in 2020) EC toolbox to tackle energy prices: Need to accelerate energy transition investments مرة European Resilience and Recovery Funds Important legislative measures under discussion $1.20 Tn Infrastructure Bill, already approved and signed $1.75 Tn Build Back Better Framework More long-term visibility on fiscal incentives Source: Whitehouse.gov | EU commission | IEA | (1). International Energy Agency's World Energy Outlook $0.75 Tn Focused around the Green Deal and the Energy Transition ITC/PTC 10-year Extensions $320 Bn Tax credits Investor presentation 12#13Despite higher wholesale prices, regulatory framework in Portugal provides stable prices for residentials and continuous system debt decline edp End-users Regulated Electricity Tariff Portugal Electricity System Debt €/MWh; Low-voltage clients (residentials & SMEs) € Bn +0.2% Wholesale price 39% +83% 71% Grid Access Tariff 61% -52% 29% 3.5 -50% 1.7 2021 2022 Renewables & cogen generation at stable feed-in tariffs (1) cover 110% of Low-voltage consumption Grid access tariff -52% due to spread inversion between feed-in tariffs (~€90/MWh) and wholesale price (2) 2020 2022 Stable end-users regulated tariffs for residentials together with a 50% system debt decline in 2 years Main contribution from improved spread between stable feed- in tariffs and higher wholesale prices Source: ERSE (1) ~22TWh/Year at €90/MWh (2) avg. wholesale electricity price assumption up from €54/MWh in 2021 to €105.5/MWh in 2022 Investor presentation 13#14Significant developments in Brazil's portfolio reshuffling provide value crystallization and improve growth prospects Transmission Asset Rotation Strategy Acquisition Celg-T Asset Rotation Actis Enterprise value R$ 1,977M R$1,329M Annual allowed Revenue (RAP²) R$ 223M R$ 131M EV/RAP Multiple 8.9 10.2 Line's extension 756km 439km Substations 14 (1) Composed by Lots 1 in Acre and Rondonia States and 18 in Maranhão State 3 edp Celg-T region (Goiás) with strong electricity demand growth, requiring significant transmission investments Two additional greenfield transmission projects added in 2021 (463km, RAP R$47M (¹)) Advanced negotiations for disposal of 0.5 GW net Hydro assets (Jari, Cachoeira and Mascarenhas) EDP Brasil additional share buyback program (~4% of share capital) announced in Oct-21 Investor presentation 14#15Recurring EBITDA -1% YoY (+3% ex-forex) with CS&EM weak performance being mitigated by strong Networks' results edp Recurring EBITDA (1,2) €m YoY growth, % -1% YoY (ex-forex +3% 2,528 ΔΥΟΥ 2,511 -53m Renewables 1,485 -4% 1,432 -€156m Wind & Solar +€103m Hydro +€198m Iberia +€86m Brazil EDPR Installed Capacity +13% YoY (3) Wind resources -5% vs. LT avg Asset rotation gains +€151m (-€49m YoY) Hydro resources vs. LT Avg. Portugal +13% Tax reversal Hydro Spain +€47m Spain Viesgo: +€148m Portugal: +€21m on improved Opex & weather Brazil distribution: +€61m, inflation update & demand Brazil transmission: +€25m, on capex execution Networks 664 +43% +284m 948 Client solutions & EM 390 -66% 134 -256m -€262m Iberia +€7m Brazil Other/adjust -11 9M20 -3 9M21 Very strong EM in 9M20 vs. 9M21 negative impact on higher prices Supply: growth of services penetration rate aninvestor presentation 15 (1) Adjustments and Non-recurring items include: (i) 9M20 of +€97m, namely, EBITDA correspondent to the 6 hydro plants sold in Portugal (+€87m), EBITDA correspondent to 2 CCGTS and B2C portfolio in Spain sold to Total (+€32m), and non-recurring costs related to Sines Shut-down (-€22m); (ii) 9M21 +€4m of non-recurring namely -€21m related to the gain from the sale of a 50% stake in the energy supplier CHC in Spain to our partner CIDE, costs related with Sonatrach (+€17m); curtailment costs mainly in networks in SP (+€8m) | (2) FX impact on EBITDA -€95m | (3) EBITDA + Equity MW.#16Net Profit -2% YoY benefitting from improved financial results and lower minority interests; net non-recurring items at zero in 9M21 edp Recurring Net Profit (1) €m EBITDA D&A and Provisions EBIT ΔΥΟΥ Reported Net Profit €m 2,511 -17 1,104 -55 1,408 -72 Net Financial Costs 396 +52 Income Taxes -248 -16 Extraordinary Energy Tax 52 52 +4 422 +21% YoY 510 9M20 9M21 Non-recurring €99m Non-controlling interests -201 +21 items -2% YoY Net Profit 510 -11 Recurring (1) €522m €510m (1) Adjustments and non-recurring items impact at net profit level: -€99m in 9M20 including the adjustment for the net profit contribution of 6 hydro plants in Portugal (-€66M); CCGT and B2C supply sold in December 2020 (-€18m), early shutdown of Sines (-€89m); CMEC overcompensation (+€50m) and one-off liability management cost (-€45m); no impacts in 9M21 including the net gain from CIDE disposal and acquisition of debt in minority stake in Spain are offset by curtailment costs in Spain, Provision on competition authority penalty and buyback prepayment fees. Investor presentation 16#17Net Debt mostly flat YTD, capex growth and temporary higher working capital offset by EDPR capital increase and hybrid bond issuances edp Change in Net Debt € Bn +€2.3Bn Gross Expansion Investments -€0.6Bn proceeds AR 1.7 +€0.4Bn WC on fixed asset suppliers 2.4 12.2 0.7 0.3 Penalized by higher working capital +€0.5Bn -€1.5Bn EDPR Capital Increase -€1Bn 50% Hybrid +€0.2Bn Forex 12.1 0.2 Net Debt Dec-20 Organic Cash Flow Dividend Net Expansion Investment Capital Reinforcement FX and Others Net Debt Set-21 FFO/Net Debt¹ ~19% (1) FFO/ND formula consistent with rating agencies methodologies, considering EDP definition of EBITDA Recurring, ~18% Investor presentation 17#18361 On ESG we have been validated by SBTI on our carbon neutral targets as we continue to pave the way towards decarbonization edp SCIENCE BASED TARGETS Coal free by 2025 Carbon neutral DRIVING AMBITIOUS CORPORATE CLIMATE ACTION 157 2015 2020 69 2026 Environment ESG excellence and attractive returns by 2030 ✓ 76% renewables generation in 9M21 -54% CO2 Specific Emissions (1) vs. 2015 66% Revenues aligned w/ EU Taxonomy (+14% vs. 9M20) ~0 2030 # (1) Scope 1&2 CO2 emissions (gCO2/kWh) Social + 26% female employees (+0.5 p.p vs. 9M20) ✓ 1.24 total recordable injury rate EDP ~€10m in Social Investment Investor presentation 18#19We will deliver superior value to our shareholders Superior green positioning and accelerated growth... 2x solar wind installed capacity by 2025 €24 Bn energy transition investment 2021-25 ESG leadership Coal free by 2025 All green by 2030 ... delivering strong earnings growth... Net income², € Bn 8% p.a. ~1.2 ~1.0 ~0.8 edp >95% energy transition¹ EBITDA by 2025 20202 2023 ... with an attractive dividend policy €0.19/share 75-85% dividend floor target payout 2025 Sustainable EPS growth to deliver DPS increase 1. EDP EBITDA excluding thermal generation 2. Recurring Net income excluding contribution from disposed portfolios in 2020 (6 hydro plants, B2C portfolio and 2 CCGTS in Spain); CESE as recurring cost Investor presentation 19#20Annex edp Investor presentation 20#21We will deliver superior value, while keeping a solid balance sheet and low-risk profile 2020 2023 2025 CAPEX¹, € Bn/yr Step-up investment plan with renewables focus 3.7 4.5 4.6 ↑ +1 Bn 2025 vs. 20 EBITDA², € Bn Increased results with distinctive energy 3.5 4.2 4.7 ↑ +6% CAGR 2020-25 transition profile Net income², € Bn 0.8 1.0 1.2 ↑ +8% Earnings acceleration CAGR 2020-25 FFO/ Net Debt³, % ~19% ~20% ~21% ↑ +2 pp Achieve BBB rating in the short term 2025 vs. 20 1. Including financial investments 2. 3. EBITDA and Net Income adjusted by disposed portfolios in 2020 (6 hydro plants, B2C portfolio and 2 CCGTs in Spain); CESE at net income level as recurring cost FFO/ND formula consistent with rating agencies methodologies, considering EDP definition of EBITDA Recurring Note: Recurring EBITDA and Net income edp Investor presentation 21#22We will strengthen our leadership position in wind onshore + edp Pipeline as of Dec 2020 Target additions 2021-25 (GW) Current presence¹ XX% in additions XX Total installed capacity We have a strong onshore presence across the globe that will be reinforced... North America² Europe LatAm 6.5 GW 5.0 GW 0.4 GW +2.8 +3.4 +2.2 GW ~30% GW GW ~40% ~25% 1. Countries with installed capacity and/or capacity already secured 2. Includes Canada and Mexico Note: EBITDA MW + Equity MW Rest of world consolidating leadership and exploring growth opportunities +0.7 GW 18 GW ~5% Consolidate position as global Top Wind player Reinforce presence in core low-risk markets (EU and US) Capture growing repowering, hybridization opportunities, and technological developments Investor presentation 22#23We will build a sound market presence in Solar edp Pipeline as of Dec 2020 Target additions 2021-25 (GW) Current presence¹ XX % in additions We have robust secured additions and strong pipeline in solar... North America² 0.5 GW Europe 0.1 GW LatAm +5.5 +2.4 +0.7 GW GW ~25% 7% GW ~60% Rest of world +0.7 GW 8% ... XX Total installed capacity adopting a differentiated approach to clients Reinforce approach to large-scale utility model through in-house capabilities Develop a distinctive approach to C&I through a dedicated Distributed Generation platform in the US Provide differentiating and solid solutions with coupled storage 1. Countries with installed capacity and/or capacity already secured 2. Includes Mexico Note: EBITDA MW + Equity MW 15 GW Investor presentation 23#24We aim to be a leading global player in offshore wind through the 50:50 JV Ocean Winds (OW) Step-change in capacity with a global footprint... edp ... with results already in place Å Installed Under construction Under development PPA/Tariff secured Project visibility for 6.6 GW of capacity • Early market entry through multi- partnerships • Bid preparations for competitive auctions 。 Scotwind Pursuing greenfield development, while assessing other opportunities Construction progressing on schedule despite Covid challenges Early mover advantage in Floating with Greenfield projects in multiple geographies Financing via project finance and Equity Bridget Loans at asset level during construction MW Name Country % OW COD gross Windplus 25 85% 2020 SeaMade¹ 487 18% 2021 Moray East 950 57% 2022 EFGL 0 30 80% 2023 ○ NY Bight ○ Norway Noirmoutier 496 61% 2025-26 。 California Moray West 871 62%2 2025-26 o France Mayflower 1,336 50% 2025-26 。 Japan 。 other Le Tréport 496 61% >2025 B&C-Wind 400 100% >2025 KF Wind 1,500 61% >2025 1. COD in 1Q21 2. Additional 33% directly owned by EDPR OW pipeline 24 GW Investor presentation 24#25We will double growth in renewables, adding 4 GW/year with clear visibility Step-up growth in renewables... Gross additions, GW¹/yr 1.6 3.5 20 GW 4.6 ... with a robust pipeline to address target additions Total gross additions, GW1 20 6.7 ~3x 44 >50 44 2020 2021-23 2024-25 Gross additions 2021-25 Secured Capacity Additional Pipeline 6.7 Pipeline 1. EBITDA MW + Equity MW edp Pipeline announced as of 2019 (16 GW) ~3x Target additions of 11 GW to be secured Secured and under active negotiations Investor presentation 25 25#26Networks - Key highlights ~€0.7 Bn annual organic CAPEX CAPEX¹, € Bn Regulated Asset Base to increase by ~€2 Bn RAB², € Bn 3.4 0.1 1.0 ✓ Tedp +XX Growth, 2020-25 EBITDA to increase by 50% EBITDA, € Bn 5% p.a. excluding Viesgo acquisition 40% 1.3 7.1 8% p.a. 0.1 1.0 0.3 5.1 1.3 0.9 0.6 0.1 0.8 0.2 2.2 4.8 0.9 3.7 0.6 2021-25 1. Includes financial investments 2. Transmission based on awarded CAPEX Note: Excludes Viesgo in 2020. 6x Euro/BRL along the period 2020 2025 2020 2025 Investor presentation 26#27Client Solutions & Energy Management - Key highlights ~€0.2 Bn annual CAPEX CAPEX, € Bn¹ Step-change growth in Solar DG Cumulative contracted PV, GWP3 EBITDA to increase by 15% EBITDA, € Bn 30% p.a. Client Solutions edp 2% p.a. 0.9 2.2 0.5 0.4 0.1 x10 Solar DG and e- mobility Solar DG and e- 0.6 mobility Traditional² 0.3 2021-25 1. 2. Includes financial investments and does not include holding capex Energy management, thermal, and other client services 3. Includes under management and entirely sold to customers Note: Excluding contribution from disposed portfolios in 2020 0.2 0.4 Traditional 2020 2025 2020 2025 Investor presentation 27#28EDP continues to ramp-up renewables pipeline and has significant short-term visibility on additional growth Secured capacity and Pipeline GW 8.1 4.2 2.7 1.2 edp >55 Active in the private market with ~60% of the secured capacity achieved through PPAS >45 8.1 Added YTD U/C Secured to be added Secured capacity Additional Pipeline Total pipeline ~60% PPAS ~40% Centralized Auctions 4.1 GW of PPAs under negotiations and shortlisted 2.8 GW 1.1 GW 0.2 GW Over 40 GW of RES expected to be auctioned until 2022 YE in EDPR markets Investor presentation 28#29IR Contacts E-mail: [email protected] Phone +351 210 012 834 Site: www.edp.com edp

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