EDP-Energias — M&A Activity 2018

Dec 28, 2018

Investors & Analysts' Briefing

Reuters: EDP.LS Bloomberg: EDP PL

EDPR concludes the sale of 10% stake in Moray Offshore (UK) to CTG

Lisbon, December 28 th , 2018: Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:

EDP Renováveis, S.A. ("EDPR"), 82.6% controlled by EDP, through its fully owned subsidiary EDP Renewables North America LLC, informs that, following the Investment Cooperation Agreement between EDPR and CTG for the Moray wind offshore project, announced on October 19th 2015, EDPR has concluded the sale of a 10% stake in equity shareholding and outstanding shareholder loans on Moray Offshore Windfarm (East) Limited ("MOWEL"), to China Three Gorges (Europe) S.A. ("CTG EU"), owned by China Three Gorges Corporation ("CTG"), for a total sum of £35 million.

With the completion of this transaction, the EDPR stake in MOWEL is 33.3%, along with DGE (33.4%), ENGIE (23.3%) and CTG (10%).

In September 2017, MOWEL was awarded a 15-year Contract for Difference (CfD) by the UK's Department for Business, Energy & Industrial Strategy ("BEIS") for the delivery of 950 MW of offshore wind generation at £57.5/MWh (2012 tariff-based). MOWEL is expected to be completed by 2022.

Investor Relations Department Miguel Viana, Head of IR Sónia Pimpão Maria João Matias Sérgio Tavares Carolina Teixeira

phone +351 21 001 2834 fax +351 21 001 2899 ir@edp.pt

EDP – Energias de Portugal, S.A.