Investor Presentaiton

Energy Context: Building regulatory frameworks to boost electrification US ➤ Inflation Reduction Act • Promoting electrification through more renewables and networks. • Creating incentives to green hydrogen production. • Supporting local supply chains. UK Increasing need for investment linked to electrification • Additional renewable capacity: Draft Energy Strategy and Just Transition Plan in Scotland. •New Transmission ("Holistic Network Design") and interconnectors (Eastern Link). ➤ RIIO-T2: in place progressing as expected. TOTEX approved of GBP -2,000 M (2021-2026). RIIO-ED 2 Final Determination: ⚫Authorized TOTEX of GBP 4,000 M (nominal), with a Cost of Equity of 5.23% plus inflation + incentives. • Nominal RAV Growth of GBP 1,500 M, up to GBP 6,500 M by 2027. ➤ Retail Markets Regulation •Improving situation: • Measures to recover pending amounts already in place. Measures to minimize future deficits. IBERDROLA RESULTS PRESENTATION / 2022 www.iberdrola.com | 15

View entire presentation