EDP-Energias — M&A Activity 2021

Apr 9, 2021

Investors & Analysts' Briefing

Reuters: EDP.LS Bloomberg: EDP PL

EDP ANNOUNCES ASSET ROTATION DEAL OF A 405 MW WIND PORTFOLIO IN THE US FOR AN EV (100%) OF \$0.7 BN

Lisbon, April 9th, 2021: EDP - Energias de Portugal, S.A. ("EDP"), through its 82.6% owned subsidiary EDP Renováveis, S.A. ("EDPR"), through its fully owned subsidiary EDP Renewables North America LLC, signed a Sale and Purchase Agreement with funds managed by Greencoat Capital to sell a 55% equity stake in a wind portfolio located in the United States, comprising two winds farms in operation with 405 MW, namely:

• Bright Stalk with 205 MW, located in Illinois and in operation since 2019;
• Harvest Ridge with 200 MW, located in Illinois and in operation since 2020.

The total consideration of the transaction corresponds to an Enterprise Value (100%) of \$720 million, which translates into an Enterprise Value of \$1.8 million/MW (equivalent to \$2.1 million/MW at projects' COD).

The transaction could potentially be upsized to an 80% equity stake between signing and closing, subject to agreement between both parties.

The transaction is subject to regulatory and other customary precedent conditions.

This transaction is within the context of the €8bn Asset rotation program announced in EDP Capital Markets Day, allowing EDP to accelerate value creation while recycling capital to reinvest in accretive growth.

This information is disclosed 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.

Investor Relations Department

phone +351 21 001 2834 ir@edp.com